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Fly News Breaks for December 17, 2019
MSG
Dec 17, 2019 | 07:48 EDT
Jefferies analyst Khoa Ngo initiated coverage of Madison Square Garden with a Buy rating and $370 price target. The company's prospective spinoff highlights the "previously obscure" asset value, growth potential, and sports betting optionality of both entities, Ngo tells investors in a research note. The analyst considers the prospective spin as "critical to capturing underappreciated value." The "rapid" growth of experiential leisure entertainment should propel both businesses in unique ways, contends the analyst.
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