Jefferies Downgrades Madison Square Garden (MSG) to Hold

August 22, 2016 7:13 AM EDT
Get Alerts MSG Hot Sheet
Price: $168.24 -0.51%

Rating Summary:
    12 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Jefferies downgraded Madison Square Garden (NYSE: MSG) from Buy to Hold with a price target of $185.00 citing limited catalysts and valuation.

Analyst John Janedis commented, "We are downgrading MSG to a Hold rating & maintaining our $185 PT. With the stock currently trading <1% from our PT and no expected catalysts in the NT which could help MSG close the public / private mkt value gap, we see limited upside in the stock."

The firm cut FY17 EPS from ($0.88) to ($1.67) and FY18 EPS from ($0.96) to ($1.79).

For an analyst ratings summary and ratings history on Madison Square Garden click here. For more ratings news on Madison Square Garden click here.

Shares of Madison Square Garden closed at $184.19 yesterday.

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