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MSG

Madison Square Garden

$271.50

0.44 (0.16%)

09:17
12/10/18
12/10
09:17
12/10/18
09:17

Madison Square Garden CFO Donna Coleman to retire, Victoria Mink to succeed

Madison Square Garden announced that Victoria Mink, the company's current executive VP of finance, will succeed Donna Coleman as executive VP and CFO. Coleman will retire as CFO as of January 1 and remain with the company through March to assist with the transition. Mink will report to MSG CEO James Dolan. As executive VP and CFO, Mink will work closely with the executive management team to support the long-term direction and overall management of the company. She will oversee all of MSG's financial and accounting matters, including forecasting, budgeting and financial planning and analysis, as well as the company's treasury, investor relations, tax and risk management functions. Additionally, she will provide strategic financial insight on all facets of the business, helping prioritize opportunities and drive value creation. Before her appointment as CFO, Mink served briefly as MSG's executive VP of finance, where she worked closely with Coleman. Prior to this, Mink served as senior VP and CAO for seven years for Cablevision Systems.

MSG Madison Square Garden
$271.50

0.44 (0.16%)

08/21/18
08/21/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Conagra Brands (CAG) initiated with an Overweight at Stephens. 2. Vital Therapies (VTL) initiated with an Overweight at Cantor Fitzgerald. 3. Jefferies Financial Group (JEF) initiated with an Outperform at Keefe Bruyette. 4. Madison Square Garden (MSG) and MSG Networks (MSGN) were initiated with an Outperform at Imperial Capital. 5. Berry Petroleum (BRY) initiated with a Buy at Johnson Rice and Tudor Pickering. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/21/18
08/21/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. JEFFERIES UPS DISCOVERY TO BUY: Jefferies analyst John Janedis upgraded Discovery (DISCA) to Buy from Hold and raised his price target for shares to $34 from $26, telling investors he sees "several" opportunities that could increase Discovery's free cash flow, including stronger U.S. distribution growth, upside to realized synergies and the potential for a re-introduction of a stock repurchase plan earlier than anticipated. Janedis said he believes the market is under-appreciating Discovery's relative stability and free cash flow generation. Discovery shares were higher by 3.4% in late morning trading. BOFA RAISES APPLE PRICE TARGET TO $250: BofA Merrill Lynch analyst Wamsi Mohan said his analysis of third-party data indicates that the relative contribution from games to App Store revenue is coming down and he views this diversifying away from gaming as bullish for Apple's (AAPL) Services business. The strong growth rate of non-gaming categories gives him increased confidence in the sustainability of strong App Store sales, leading the analyst to raise his Services revenue estimate and increase his price target on Apple shares to $250 from $230 with a Buy rating on the name. IMPERIAL STARTS MSG AT OUTPERFORM: Imperial Capital analyst David Miller initiated shares of Madison Square Garden (MSG) with an Outperform rating and $372 price target. Miller believes there is still "measurable upside" to full intrinsic value on a sum-of-the-parts basis. In addition, post the split-off from MSG Networks (MSGN) in October 2015, investors no longer have to worry about cord-cutting or any other secular concern affecting linear cable networks. Rather, MSG is focused completely on the "live" experience, with flagship assets that include the NY Knicks, the NY Rangers, and the real estate associated with iconic arenas such as the Forum in Los Angeles, Radio City Music Hall, the Chicago Theater, and the Garden itself. MORGAN STANLEY GOES RESTRICTED ON TESLA: Morgan Stanley is now restricted in terms of rating Tesla (TSLA), on which the firm previously had an Equal Weight rating. The Fly notes that on August 15, Goldman Sachs went to Not Rated on Tesla, with analyst David Tamberrino stating that the change was due to Goldman "acting as a financial advisor in connection with a matter that is fundamental to the reasonable analysis of the rating and price target for this stock." It may be that a similar situation is why Morgan Stanley is restricted in covering Tesla, though that has not been confirmed by the bank.
08/23/18
GUGG
08/23/18
NO CHANGE
Target $350
GUGG
Buy
Madison Square Garden price target raised to $350 from $265 at Guggenheim
Guggenheim analyst Michael Morris raised his price target on Madison Square Garden to $350 and kept his Buy rating, citing the shift in his valuation model to a solo sum-of-the-parts from a blend of SOTM and target multiple. Morris also cites the company's recent indication to consider a spinoff for 2/3rd of its sports business, driving valuation of its Knicks and Rangers sports franchises to reflect their transaction value. The analyst adds that his valuation assumes the Sports business at $210/share and the Entertainment business at $178/share reflecting investment values of Madison Square Garden and the Forum, along with the "relative EBITDA multiple on the booking, productions and other live businesses".
09/04/18
IMPC
09/04/18
NO CHANGE
Target $372
IMPC
Outperform
Madison Square Garden likely to announce LA residency act, says Imperial Capital
Imperial Capital analyst David Miller believes Madison Square Garden is gearing up to announce a brand new "concert residency" at the Forum in Los Angeles. The concept would be the same as what currently exists for Billy Joel at Madison Square Garden in New York City, but exclusively on the West Coast, Miller tells investors in a research note. The analyst thinks the agreement would likely "involve a rock act identifiable with Los Angeles, or the West Coast in general." Miller keeps an Outperform rating on Madison Square Garden with a $372 price target.

TODAY'S FREE FLY STORIES

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General news
Treasury Market Summary »

Treasury Market Summary:…

LYV

Live Nation

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-1.55 (-2.29%)

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Live Nation 'looking forward' to taking part in Congress review of ticket market 

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DRH

DiamondRock

$9.86

-0.085 (-0.86%)

19:53
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Upgrade
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Ooma

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Pure Storage

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ENTA

Enanta

$63.27

1.55 (2.51%)

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Intuit

$270.01

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AES

AES Corp.

$18.50

-0.115 (-0.62%)

19:08
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Earnings
AES backs FY19 adjusted EPS view $1.30-$1.38, consensus $1.33 »

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  • 04

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WM

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$111.23

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, RSG

Republic Services

$86.78

-0.91 (-1.04%)

19:07
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Initiation
Waste Management, Republic Services, Waste Connections, Clean Harbors, Stericycle, Casella Waste, Covanta initiated  »

Jefferies initiates…

WM

Waste Management

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RSG

Republic Services

$86.78

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WCN

Waste Connections

$89.54

-0.28 (-0.31%)

CLH

Clean Harbors

$84.70

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SRCL

Stericycle

$62.49

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CWST

Casella Waste

$43.70

-0.39 (-0.88%)

CVA

Covanta

$14.43

-0.14 (-0.96%)

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AES

AES Corp.

$18.50

-0.115 (-0.62%)

19:07
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Hot Stocks
AES Corp. says PUCO has modified DP&L rates »

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  • 04

    Dec

ICE

IntercontinentalExchange

$93.89

-0.58 (-0.61%)

, BTC

Bitcoin

$0.00

(0.00%)

19:02
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Hot Stocks
ICE announces launch of Bakkt Bitcoin Cash Settled Monthly Futures contract »

Intercontinental Exchange…

ICE

IntercontinentalExchange

$93.89

-0.58 (-0.61%)

BTC

Bitcoin

$0.00

(0.00%)

BITCOIN

Bitcoin

$0.00

(0.00%)

03/08/13
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MAN

ManpowerGroup

$92.05

-0.355 (-0.38%)

18:51
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18:51
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18:51
Initiation
ManpowerGroup initiated at Jefferies »

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RHI

Robert Half

$58.01

-0.38 (-0.65%)

18:48
11/21/19
11/21
18:48
11/21/19
18:48
Initiation
Robert Half initiated at Jefferies »

Robert Half initiated…

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HTZ

Hertz

$15.37

0.265 (1.76%)

18:46
11/21/19
11/21
18:46
11/21/19
18:46
Initiation
Hertz initiated at Jefferies »

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CAR

Avis Budget

$28.71

0.16 (0.56%)

18:44
11/21/19
11/21
18:44
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18:44
Initiation
Avis Budget initiated at Jefferies »

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AMD

AMD

$39.52

-1.45 (-3.54%)

18:42
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Hot Stocks
AMD CEO: The key for us is product generation »

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  • 09

    Dec

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    Dec

CTAS

Cintas

$253.61

-5.78 (-2.23%)

, BFAM

Bright Horizons

$148.62

-3.92 (-2.57%)

18:42
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18:42
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Initiation
Cintas, Bright Horizons, Aramark, H&R Block, BrightView, Rollins, ServiceMaster initiated at Jefferies »

Jefferies initiates…

CTAS

Cintas

$253.61

-5.78 (-2.23%)

BFAM

Bright Horizons

$148.62

-3.92 (-2.57%)

ARMK

Aramark

$42.42

-1.37 (-3.13%)

HRB

H&R Block

$24.34

-0.15 (-0.61%)

BV

BrightView

$16.79

-2.525 (-13.08%)

ROL

Rollins

$35.77

-0.8 (-2.19%)

SERV

ServiceMaster

$36.16

-0.42 (-1.15%)

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  • 21

    Nov

  • 04

    Dec

PINE

Alpine Income Properties

$0.00

(0.00%)

18:34
11/21/19
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18:34
Syndicate
Alpine Income Properties 7.5M share IPO priced at $19.00 »

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  • 22

    Nov

OTTW

Ottawa Bancorp

$13.39

-0.39 (-2.83%)

18:28
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18:28
Hot Stocks
Ottawa Bancorp approves stock buyback of 317,307 shares »

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MSFT

Microsoft

$149.46

-0.14 (-0.09%)

18:27
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18:27
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18:27
Periodicals
Microsoft says granted U.S. license to do business with Huawei, Bloomberg says »

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  • 02

    Dec

  • 04

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  • 09

    Dec

SITC

Site Centers

$14.28

-0.275 (-1.89%)

18:24
11/21/19
11/21
18:24
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18:24
Upgrade
Site Centers rating change at Stifel »

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UAL

United Airlines

$90.96

-0.72 (-0.79%)

, BA

Boeing

$366.47

-4.275 (-1.15%)

18:23
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18:23
Hot Stocks
United Airlines CEO: We don't think we are near a recession »

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UAL

United Airlines

$90.96

-0.72 (-0.79%)

BA

Boeing

$366.47

-4.275 (-1.15%)

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  • 03

    Dec

FAST

Fastenal

$35.15

-0.1 (-0.28%)

, GWW

Grainger

$312.66

0.305 (0.10%)

18:20
11/21/19
11/21
18:20
11/21/19
18:20
Initiation
Fastenal, Grainger, HD Supply, MSC Industrial, Wesco initiated at Jefferies »

Jefferies initiates…

FAST

Fastenal

$35.15

-0.1 (-0.28%)

GWW

Grainger

$312.66

0.305 (0.10%)

HDS

HD Supply

$39.10

-0.21 (-0.53%)

MSM

MSC Industrial

$73.66

-0.125 (-0.17%)

WCC

Wesco

$53.09

-0.02 (-0.04%)

03/08/13
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  • 10

    Dec

  • 30

    Jan

SPGI

S&P Global

$264.34

-3.6 (-1.34%)

, INFO

IHS Markit

$71.62

-0.38 (-0.53%)

18:06
11/21/19
11/21
18:06
11/21/19
18:06
Initiation
S&P Global, IHS Markit, Verisk Analytics, Gartner, FactSet, Equifax, TransUnion, CoStar Group initiated at Jefferies »

Jefferies initiates…

SPGI

S&P Global

$264.34

-3.6 (-1.34%)

INFO

IHS Markit

$71.62

-0.38 (-0.53%)

VRSK

Verisk Analytics

$144.45

0.12 (0.08%)

IT

Gartner

$158.00

0.06 (0.04%)

FDS

FactSet

$258.20

-3.65 (-1.39%)

EFX

Equifax

$137.97

-1.15 (-0.83%)

TRU

TransUnion

$84.90

-1.34 (-1.55%)

CSGP

CoStar Group

$587.66

-7.45 (-1.25%)

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  • 02

    Dec

  • 19

    Dec

  • 19

    Dec

  • 07

    Jan

GPS

Gap

$16.22

-0.05 (-0.31%)

17:59
11/21/19
11/21
17:59
11/21/19
17:59
Periodicals
Gap to pull Old Navy brand from China in early 2020, Reuters reports »

Gap said it does not…

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  • 21

    Nov

  • 05

    Dec

LB

L Brands

$17.18

1.78 (11.56%)

17:50
11/21/19
11/21
17:50
11/21/19
17:50
Hot Stocks
L Brands cancels Victoria's Secret Fashion Show for 'more current platforms' »

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  • 21

    Nov

  • 05

    Dec

  • 27

    Feb

WCC

Wesco

$53.09

-0.02 (-0.04%)

17:47
11/21/19
11/21
17:47
11/21/19
17:47
Initiation
Wesco initiated at Jefferies »

Wesco initiated with a…

03/08/13
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03/06/13
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03/06/13
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MAN

ManpowerGroup

$92.05

-0.355 (-0.38%)

17:47
11/21/19
11/21
17:47
11/21/19
17:47
Initiation
ManpowerGroup initiated at Jefferies »

ManpowerGroup initiated…

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