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Fly News Breaks for December 16, 2016
LGF, MSG, MSGN
Dec 16, 2016 | 05:34 EDT
Loop Capital analyst David Miller downgraded MSG Networks (MSGN) to Sell saying investors should take profits following the recent rally in the shares. The proceeds should be used to buy Madison Square Garden (MSG), which is trading well beneath its sum-of-the-parts, or Lionsgate (LGF), Miller tells investors in a research note. The analyst attributes the rally in MSG Networks to takeover speculation, which he views as "inefficient." He keeps an $18 price target for the shares.
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