[ad_1]
There’s an attractive buying opportunity in New York Rangers and Knicks parent Madison Square Garden Sports , according to Citi. The bank initiated coverage of the American sports holding company with a buy rating and a $285 per share price target. Citi’s forecast implies more than 40% upside from Monday’s close. Analyst Steven Sheeckutz said the market could be underestimating Madison Square Garden Sports, which could present a buying opportunity for investors. MSGS YTD mountain Madison Square Garden Sports stock in 2025. “At prevailing levels, MSGS equity appears undervalued relative to third-party valuations and recent transaction multiples,” Sheeckutz said. “We view this valuation gap as a buying opportunity, as we see scope for it to close driven by favorable private market trends and a potential minority interest sale of either the Knicks or Rangers.” “MSGS currently trades at ~55% discount to the third-party valuations from Forbes. This falls above MSGS’s historical average discount of ~44%,” the analyst added. “As a result, we believe closing the private market valuation gap presents the biggest opportunity for equity investors.” Shares have pulled back more than 10% in 2025. However, they gained 2% in the premarket.
You might also like
[ad_2]
Source link
