Albert Fried Maintains Madison Square Garden Buy, $38 PT

Albert Fried maintained its Madison Square Garden (NYSE: MSG) Buy rating and $38 price target in a research report published today.

In the report, Albert Fried states, " Since MSG's February 2010 Cablevision Systems (CVC: MP, $18) spin-out to shareholders, MSG shares are up roughly 30%. We think MSG's planned renovation will likely create shareholder value through concession and ticket price escalations; thus MSG shares offer upside."

Shares of Madison Square Garden were trading at $32.35 at the time of posting, down 1.04% from Monday's market close.