Maxim Group Maintains a 'Buy' on Madison Square Garden (MSG); Raising PT After Clearing Carriage Dispute with Time Warner Cable (TWC)
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Price: $61.50 -0.47%
Rating Summary:
9 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
9 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade MSG Now!
Maxim Group maintains a 'Buy' on Madison Square Garden (NASDAQ: MSG) price target raised from $36 to $42.
Analyst, John Tinker, said, "MSG’s victory suggests that live sports programming is still essential, in our opinion. MSG, had already been dropped by DISH (Nasdaq: DISH) and looked like an easy target to be dropped by Time Warner Cable (NYSE: TWC)(NotRated) as a way of keeping programming fee increases down. We are unsure of the terms but regard the intervention by New York Governor Cuomo as a win for MSG. MSG benefitted with the Linsanity story becoming international and viewers blamed TWC if they could not get the service."
"We are raising FY13 (June year-end) EBITDA to $295M (up 34% y/y) based on higher affiliate and advertising revenues, from our prior estimate of $251M. Consensus is ~$286M."
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 $32.85 yesterday, with a 52 week range of $21.12-$33.49.
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Analyst, John Tinker, said, "MSG’s victory suggests that live sports programming is still essential, in our opinion. MSG, had already been dropped by DISH (Nasdaq: DISH) and looked like an easy target to be dropped by Time Warner Cable (NYSE: TWC)(NotRated) as a way of keeping programming fee increases down. We are unsure of the terms but regard the intervention by New York Governor Cuomo as a win for MSG. MSG benefitted with the Linsanity story becoming international and viewers blamed TWC if they could not get the service."
"We are raising FY13 (June year-end) EBITDA to $295M (up 34% y/y) based on higher affiliate and advertising revenues, from our prior estimate of $251M. Consensus is ~$286M."
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 $32.85 yesterday, with a 52 week range of $21.12-$33.49.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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