Will Madison Square Garden (MSG) Stock Be Negatively Affected By This Ratings Downgrade?

NEW YORK (TheStreet) --The Madison Square Garden Co. (MSG) was downgraded to “hold” from “buy” at Topeka Capital on Thursday.

The firm said it lowered its rating on the sports, entertainment, and media business company based on its belief MSG will fail to meet levered free cash flow expectations in 2015.

Topeka cut its price target on the stock to $63 from $67. 

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Shares of MSG are down by -0.98% to $60.60.

MSG ChartMSG data by YCharts

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