Maxim Group Downgrades Madison Square Garden (MSG) to Hold; Going Dark For Five Months

Maxim Group downgraded Madison Square Garden (NASDAQ: MSG) from Buy to Hold.

Analyst, John Tinker, said, "With the exception of the possible arrival of Phil Jackson as Knicks coach, there may not be much news flow for a while. A Rangers NHL Stanley cup victory would be a positive and help the value of the team, overall garden franchise and increased advertising rates for next fall on the networks. The playoffs are no longer carried on MSG Networks – games played at The Garden still generate tickets though. The Knicks are unlikely to go to the next round. The Garden closes immediately after the last play off game and then is totally dark for about 5 months."

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 $36.53 yesterday.

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