MSG Co. downgraded amid NBA lockout
NewsCore
Share This Story
The NBA lockout claimed a stock market victim Tuesday, as shares of New York Knicks parent Madison Square Garden Co. (MSG) were downgraded to neutral by Bank of America Merrill Lynch -- in part because of lost income caused by the work stoppage.
NBA LOCKOUT
- Sides trying to save NBA Christmas
- NBA players withdraw one lawsuit
- Kriegel: Anyone missing the NBA?
- Whitlock: Players stand up to bully
- Witz: Ball now in owners' court
- Horrow video: Kiss season goodbye?
- Whitlock: Jordan the owner is a sellout
- Reiter: Heat need lockout to end
- What players are doing during lockout
- 10 biggest lockout losers
"Despite our continued belief in MSG's robust long-term story ... we think the shares will be unlikely to outperform over the near term with $90 million of adjusted operating cash flow at risk from a full-season NBA lockout and a possible LA Forum acquisition on the horizon," the analysts wrote in a note.
They lowered their target price for the stock to $28. MSG agreed to buy the LA Forum concert venue late last year.
Shares of MSG were down a fraction to $22.72 at Tuesday's US market open.
Read more . . .
Related Stories
Trending Now
-
Report: Ex-champ Tapia found dead
Troubled five-time world boxing champion Johnny Tapia was found dead in his Albuquerq... -
Skydiver dies after both chutes fail
A veteran skydiver died in a horror accident in Australia over the weekend, when both... -
Spurs-Heat is culture clash we need
Boring? Hell, the Spurs are winners -- and winning can be more thrilling than porn. -
Two killed as rally car strikes crowd
A race car went out of control on a rural Irish road and crashed into a crowd of abou... -
Kahne captures Coca-Cola 600
Kahne charges to commanding Charlotte victory.
NBA Videos
Spurs take Game 1 from Thunder
Posted: May 28, 2012
Hear from Gregg Popovich and Tony Parker after the Spurs 101-98 win over the Thu...
Hear from Gregg Popovich and Tony Parker after the Spurs 101-98 win over the Thu...
Thunder fall short to Spurs
Posted: May 28, 2012
Hear from Scott Brooks and Kevin Durant after their Game 1 loss to San Antonio.
Hear from Scott Brooks and Kevin Durant after their Game 1 loss to San Antonio.
Marques: BOS/MIA preview
Posted: May 27, 2012
Marques Johnson dishes on the Celtics and Heat series.
Marques Johnson dishes on the Celtics and Heat series.
NBA Headlines
More Than Sports on MSN
Fox Sports Store
| itemName | itemURL | imageSrc | price | itemDescription |
|---|---|---|---|---|
| adidas Kobe Bryant Los Angeles Lakers Revolution 30 Swingman Performance Jersey-Gold | http://www.foxsportsshop.com/FOX_Los_Angeles_Lakers/browse/featuredproduct/491688/source/prsp_ca | http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_491000/ff_491688_xl.jpg&w=100 | 89.95 | adidas Kobe Bryant Los Angeles Lakers Revolution 30 Swingman Performance Jersey-.. |
| adidas LeBron James Miami Heat Revolution 30 Swingman Performance Jersey-Black | http://www.foxsportsshop.com/FOX_Miami_Heat/browse/featuredproduct/498609/source/prsp_ca | http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_498000/ff_498609_xl.jpg&w=100 | 89.95 | adidas LeBron James Miami Heat Revolution 30 Swingman Performance Jersey-Black |
| \'47 Brand Orlando Magic Black Hardwood Classics Franchise Fitted Hat | http://www.foxsportsshop.com/FOX_Orlando_Magic/browse/featuredproduct/505997/source/prsp_ca | http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_505000/ff_505997_xl.jpg&w=100 | 23.95 | \'47 Brand Orlando Magic Black Hardwood Classics Franchise Fitted Hat |
| New Era Dallas Mavericks Black Primary Logo 59FIFTY Flat Bill Fitted Hat | http://www.foxsportsshop.com/FOX_Dallas_Mavericks/browse/featuredproduct/614631/source/prsp_ca | http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_614000/ff_614631_xl.jpg&w=100 | 34.95 | New Era Dallas Mavericks Black Primary Logo 59FIFTY Flat Bill Fitted Hat |
| Boston Celtics Team Mascot Gnome | http://www.foxsportsshop.com/FOX_Boston_Celtics/browse/featuredproduct/617849/source/prsp_ca | http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_617000/ff_617849_xl.jpg&w=100 | 24.95 | Boston Celtics Team Mascot Gnome |
| Mitchell & Ness Houston Rockets Red Solid Script Snapback Adjustable Hat | http://www.foxsportsshop.com/FOX_Houston_Rockets/browse/featuredproduct/692238/source/prsp_ca | http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_692000/ff_692238_xl.jpg&w=100 | 25.95 | Mitchell & Ness Houston Rockets Red Solid Script Snapback Adjustable Hat |
Member Comments
Please note by clicking on "add a comment" you acknowledge that you have read the Terms of Use and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator.