Macquarie Remains Bullish on MSG Networks Inc. (MSGN) Following 1Q

Macquarie maintained an Outperform rating and $30.00 price target on MSG Networks (NYSE: MSGN) following the company's 1Q. Macquarie is usually cautious on cable networks but sees MSGN as best positioned given the loyal must-have nature of regional sports. Management laid out a game plan to grow its digital presence while navigating sub decline. The most prominent of which is to raise the value of MSG Go to where it could be one of the first to launch NHL games.

Analyst Amy Yong commented, "MSG is not immune to the trend toward skinnier bundles but there's enough to withstand these secular pressures. In its first quarter as a publicly traded company, management laid out a game plan to grow its digital presence while navigating sub decline. The most prominent of which is to raise the value of MSG Go to where it could be one of the first to launch NHL games."

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 $20.92 yesterday.

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