Market Overview

UPDATE: Morgan Stanley Raises PT to $43 on Madison Square Garden on Higher Affiliate Fees

Related MSG
Madison Square Garden Names David Goodman To President Of Productions & Live Entertainment
Top 4 Mid-Cap Stocks In The Entertainment-Diversified Industry With The Highest ROI
Traders Cheer Rangers Win, Bid Up MSG (Fox Business)

Morgan Stanley reiterates its Overweight rating on Madison Square Garden (NASDAQ: MSG) and increases its price target from $36 to $43.

Morgan Stanley notes, "Above consensus on affiliate revenue growth at MSG, and our estimates appear conservative: We are raising our FY13 Media rev forecast by ~$40M (+6%), primarily on higher affiliate fees following the TWC renewal. While MSG's negotiation did not come without risk, the ultimate result supports our bullish view of MSG's strategic position as an owner of high-value sports content. "

MSG closed at $36.85 on Tuesday.

Latest Ratings for MSG

DateFirmActionFromTo
Aug 2014ISI GroupDowngradesBuyNeutral
Aug 2014Stifel NicolausDowngradesBuyHold
Aug 2014MacquarieMaintainsNeutral

View More Analyst Ratings for MSG
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

Related Articles (MSG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters