Jefferies analyst David Katz reiterated a Buy rating on Madison Square Garden Sports (MSGS – Research Report) today and set a price target of $232.00. The company’s shares closed yesterday at $170.73.
Katz covers the Services sector, focusing on stocks such as Churchill Downs, Hyatt Hotels, and Marriott International. According to TipRanks, Katz has an average return of 8.6% and a 47.70% success rate on recommended stocks.
Currently, the analyst consensus on Madison Square Garden Sports is a Strong Buy with an average price target of $224.50, implying a 31.49% upside from current levels. In a report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $205.00 price target.
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MSGS market cap is currently $3.9B and has a P/E ratio of 81.85.
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The Madison Square Garden Co. engages in the provision sports and entertainment business. Its sports franchises include the New York Knicks (Knicks), National Basketball Association (NBA), New York Rangers (Rangers), National Hockey League (NHL), New York Liberty (Liberty), Women’s National Basketball Association (WNBA), Hartford Wolf Pack of the American Hockey League (AHL), Westchester Knicks of the NBA G League (NBAGL), and Counter Logic Gaming (CLG). It operates through the following segments: Madison Square Garden (MSG) Entertainment, MSG Sports, and Corporate and Others. The MSG Entertainment segment features its live entertainment events, including concerts, family shows, performing arts and special events, which present or host in its diverse collection of venues. The MSG Sports segment promotes, produces, and presents a broad array of other live sporting events, such as professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling. The company was founded on March 4, 2015 and is headquartered in New York, NY.
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