NHL Agreement Positive for Madison Square Garden (MSG)

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This weekend NHL management and players reached an agreement salvaging a shortened 48 game NHL season after a four-month lockout. In response, Needham and Company reiterated a Buy rating and raised its price target on Madison Square Garden (Nasdaq: MSG) to $55 from $44 previously.

Analyst Laura Martin said, "As a result of the presumptive NHL labor settlement and the successful near completion of the renovation at Madison Square Garden, we believe the risks associated with owning MSG are falling fast. Falling risk makes MSG is an increasingly attractive stock for long-term fundamental investors, in our view."

For an analyst ratings summary and ratings history on Madison Square Garden (Nasdaq: MSG) click here. For more ratings news on Madison Square Garden click here.

Shares of Madison Square Garden closed at $47.12 yesterday, with a 52 week range of $28.60-$47.53.

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