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March 20, 2014
08:23 EDTMSGMSG near-term results unlikely impacted by hiring, says Maxim
Maxim believes the hiring of Phil Jackson is unlikely to have an immediate material impact on Madison Square Garden's operating results since the Knicks already sell out regularly and ticket price raises beyond the usual annual low-single-digit increase are unlikely. The firm believes, though, that the Jackson hire has the potential to make the Knicks the “hottest ticket in the country.” It keeps a Buy rating on the stock with a $75 price target.
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