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Fly News Breaks for December 5, 2017
MSG
Dec 5, 2017 | 07:33 EDT
As previously reported, Morgan Stanley analyst Benjamin Swinburne downgraded Madison Square Garden to Equal Weight from Overweight, noting the shares have outperformed the broader Media space significantly year-to-date, narrowing the stock's discount to the company's net asset value. Investors looking for MSG to buy back shares, sell more assets or go private may be disappointed if the company instead chooses to use its financial capacity to expand further into venues, said Swinburne, who keeps a $245 price target on the stock.
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