Susquehanna initiated coverage of MSG Sports (MSGS) with a Positive rating and $254 price target MSG Sports is a pure-play on the value of two major market professional sports franchises, the analyst tells investors in a research note. The firm views the franchises as attractive currently given the impact to the shares from both a “very disappointing” season for the New York Rangers as well as the overall market meltdown and the impact on asset valuations. In the intermediate term, the stock could benefit in the near-term from Knicks winning the first round of the playoffs, contends Susquehanna.
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