Slam dunk seasons from the New York Knicks and Rangers ought to bode effectively for guardian firm Madison Sq. Backyard Leisure , in line with Financial institution of America. “We anticipate wholesome F3Q outcomes supported by sturdy demand for dwell experiences,” mentioned analyst Peter Henderson. “In our view, outcomes ought to mirror stable venue rental exercise, the profit from sturdy common season performances for the Knicks and Rangers which probably drove wholesome attendance and per cap spending in addition to help from 10 Radio Metropolis Christmas Spectacular reveals in January 2024.” Each the basketball staff and hockey staff have been on a stable successful streak this season, incomes spots within the playoff rounds. The Knicks’ blowout run has partially stemmed from a robust efficiency from level guard Jalen Brunson. Shares of the corporate are already up about 26% yr up to now. Whereas a playoff run could bode effectively for shares, Madison Sq. Backyard Leisure might doubtlessly reap an excellent greater reward if the groups make it to the championship. It’s because a partial playoff run could also be accounted for within the forecast however not an extended bid for a championship, Henderson mentioned. MSGE YTD mountain Madison Sq. Backyard Leisure shares yr up to now. Given this outlook, the analyst upped his value goal to $43 from $41 a share, reflecting about 8% upside from Tuesday’s shut. He additionally hiked the fiscal third-quarter income estimate to $229 million and revised his full-year forecast to $942 million, which is barely above the midpoint of the corporate’s $930 million to $950 million vary. “MSGE’s stable market place will proceed to assist the corporate profit from demand for dwell music/leisure occasions,” he wrote. “We consider MSGE presents a beautiful alternative to personal a growth-oriented, pure-play dwell leisure firm.”