Madison Square Garden Sports: Don't Count On Forbes Valuations [Seeking Alpha]
Madison Square Garden Sports Corp. Class A (New) (MSGS)
Company Research
Source: Seeking Alpha
Operating sports teams is a challenging business. Revenue streams are offset by surging player salaries and other expenses. The sports team asset class has had surging valuations due to perceived trophy asset value, but materializing such value in MSG Sports is improbable. MSGS's valuation isn't justified by MSG Sports' thin earnings. I project MSGS stock to be fairly valued at $48 based on cash flow; team sale optionality is needed. mizoula/iStock Editorial via Getty Images Madison Square Garden Sports Corp. MSGS ) operates sports teams. The company is primarily known for its ownership of the New York Knicks in the NBA and of the New York Rangers in the NHL. MSG This article was written by Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it
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News
- Madison Square Garden (NYSE:MSGS) had its price target raised by analysts at Citigroup Inc. from $285.00 to $290.00. They now have a "buy" rating on the stock.MarketBeat
- Madison Square Garden (NYSE:MSGS) had its "peer perform" rating reaffirmed by analysts at Wolfe Research.MarketBeat
- Madison Square Garden (NYSE:MSGS) had its "sell (d+)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Pellera Technologies Named an Official Partner of the New York Rangers [Yahoo! Finance]Yahoo! Finance
- PELLERA TECHNOLOGIES NAMED AN OFFICIAL PARTNER OF THE NEW YORK RANGERS [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The