Investing.com — Guggenheim named Madison Sq. Backyard Sports activities Corp (NYSE:) its “finest concept” for 2025, given robust secular progress in dwell leisure and upside potential from Penn Station redevelopment plans.
The brokerage expects near-double-digit adjusted working revenue progress for fiscal 2025 regardless of current forecast revisions associated to the timing of occasions. MSGE shares have fallen about 23% since its first-quarter monetary outcomes, however Guggenheim stays optimistic a few second-half restoration and stronger progress in fiscal 2026 and 2027.
Guggenheim stated MSGE’s iconic New York property, together with The Backyard, are well-positioned to learn from a rebound in dwell occasions. The brokerage additionally highlighted ongoing inventory repurchases, together with a current $25 million repurchase.
Additional upside might come from potential developments round Penn Station, with reviews indicating that President-elect Trump has mentioned infrastructure tasks with New York Governor Kathy Hochul. The sale of MSGE’s Hulu Theater, valued at a number of hundred million {dollars}, might unlock further shareholder worth.
Guggenheim reiterated its “purchase” ranking and a worth goal of $48, based mostly on an general valuation that displays MSGE’s money, debt and company prices.
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