Imperial Capital Starts MSG Networks (MSGN) at Outperform

Imperial Capital analyst David Miller initiates coverage on MSG Networks (NYSE: MSGN) with a Outperform rating and a price target of $29.00.

The analyst comments "We believe MSGN's FCF generation will supercharge its net debt/AOI ratio down to below 2.25x by the end of FY19, which just began on 7/1/18, and below 2.20x by the end of FY20. We believe small to mid (SMID) cap stocks in the Media space tend to screen better to value managers when leverage ratios are below 2.50x, and with that in mind, we think the market is underestimating the pace at which that will happen."

For an analyst ratings summary and ratings history on MSG Networks click here. For more ratings news on MSG Networks click here.

Shares of MSG Networks closed at $24.80 yesterday.

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