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MSG +3.6% as Macquarie raises to Outperform on spin-off planning

Jun. 29, 2018 1:25 PM ETMadison Square Garden Sports Corp. (MSGS) StockMSGSBy: Jason Aycock, SA News Editor
  • Madison Square Garden (NASDAQ:MSG) is up again, +3.6%, with Macquarie upgrading in the wake of the company's consideration of spinning off its sports businesses.
  • Analyst Amy Yong lifted her rating to Outperform.
  • Along with rising values for sports teams that can lift the New York Knicks and New York Rangers, the entertainment business could see a jolt from new Las Vegas/London spheres, which "could present significant upside" to annual entertainment revenue growth estimates, she writes. (h/t Bloomberg)
  • Her price target is up to $350 from $302, implying 11.4% further upside.
  • Previously: MSG +10% as Jefferies boosts to Buy (Jun. 28 2018)

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