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

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Earnings Scheduled For May 4, 2017
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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
May 2017Bank of AmericaInitiates Coverage OnBuyBuy
Jan 2017Bank of AmericaReinstatesBuy
Jan 2017Morgan StanleyUpgradesEqual-WeightOverweight

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View the Latest Analyst Ratings

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

 

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