economy
MSGS stock to get boost if Knicks can stretch Spurs series to game 6, Guggenheim says
Guggenheim raised its price target on MSG Sports, saying a Knicks-Spurs NBA Finals Game 6 could add over $15 million in revenue.
TL;DR
- Shares of Madison Square Garden Sports could experience sizable upside if the New York Knicks' NBA Finals run extends to a sixth game.
- Guggenheim reiterated its buy rating on Madison Square Garden Sports and raised its price target to $470 from $422.
- An extended NBA Finals series, particularly reaching Game 6 at The Garden, could add over $15 million in revenue.
- Other potential catalysts for unlocking value include a spin-off of the Knicks and New York Rangers businesses and NBA expansion.
- Guggenheim's analysis suggests MSG Sports shares could trade at a premium of roughly 48% to the current share price.