Jefferies Downgrades Madison Square Garden (MSG) to Hold
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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).
Shares of Madison Square Garden closed at $184.19 yesterday.
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