Wolfe Research Upgrades MSG Knickerbockers, Sets $380 Target

Wolfe Research raised its rating on MSG Knickerbockers Corp. to Outperform and set a $380 price target, with analyst Peter Supino pointing to a possible minority stake sale and higher costs ahead for the New York Knicks.

The upgrade moves MSG Knickerbockers (MSGK) from Peer Perform to Outperform. Supino projected that higher standalone operating expenses and new tax payments in fiscal 2028 would bring the Knicks’ cash close to zero.

Supino’s analysis said a minority stake sale could value the company’s equity at more than 20 times sales. MSG Knickerbockers owns the New York Knicks and Westchester Knicks.

The Rangers spin-off was completed at 11:59 p.m. ET Oct. 26, and MSGK began trading on the New York Stock Exchange on Oct. 27. TokenPost previously covered analyst valuations for MSG Knickerbockers.