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Fly News Breaks for August 22, 2019
MSGN
Aug 22, 2019 | 07:51 EDT
Guggenheim analyst Michael Morris lowered his price target on MSG Networks shares to $15 from $24 after the company reported accelerating subscriber declines in Q4. He thinks the underlying linear ecosystem won't be improving on the affiliate side and believes the company will be reliant on price increases, but Morris also continues to view live sports as premium content and thinks that advertiser demand will remain strong. He keeps a Neutral rating on MSG Networks shares.
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