BTIG initiated coverage of MSG Sports (MSGS) with a Neutral rating and no price target The company can remain a “modestly cash flow-generating entity” while putting money back into the business, but its ownership structure and limited float, with the CEO and his family owning 70.7% of the voting rights, along with a lack of visibility into a near-term catalyst warrants being on the sidelines, the analyst tells investors in a research note. BTIG views MSG Sports’ risk/reward as full at current levels.
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