Market Overview

Madison Square Garden Can Win From M&A And Buybacks

Madison Square Garden Can Win From M&A And Buybacks
  • The share price of The Madison Square Garden Co. (NYSE: MSG) have increased more than 2 percent in the past one month.
  • Stifel’s Benjamin E. Mogil has upgraded the rating on the company from Hold to Buy, with a price target of $190.
  • The upgrade follows the spin-off of Madison Square Garden Networks (MSGN).

Analyst Benjamin Mogil believes that the company has “a strong collection of assets with high IP value, supported by an M&A war-chest with the backdrop of a sizable buyback cushion,” which Madison Square Garden would “actively” utilize at the current price levels.

Mogil also believes that “as the television delivery eco-system evolves, actual content IP ownership will continue to have multiple distribution options.”

Most of the company’s M&A focus is expected to be in the Entertainment business, although Mogil does not expect Madison Square Garden to be very active in terms of share buybacks.

Latest Ratings for MSG

May 2019MaintainsOutperform
Apr 2019MaintainsEqual-WeightEqual-Weight
Nov 2018MaintainsEqual-WeightEqual-Weight

View More Analyst Ratings for MSG
View the Latest Analyst Ratings

Posted-In: Benjamin E. Mogil StifelAnalyst Color Long Ideas Upgrades Top Stories Analyst Ratings Trading Ideas Best of Benzinga


Related Articles (MSG)

View Comments and Join the Discussion!

WantChinaTimes Speculating Facebook May Soon Be Allowed To Enter China

Market Could Be Surprised With This Petrobras Number?