Citigroup Recommends Investing in MSG Stock as the New York Knicks' Value Increases

Investment Recommendation: Citigroup Global Markets recommends buying shares of Madison Square Garden Sports, projecting a 25% upside based on the increasing value of the New York Knicks, which are now valued at approximately $9.75 billion.

Valuation Insights: Analyst Steven Sheeckutz notes that MSG Sports is trading at a 58% discount compared to Forbes' valuation, suggesting potential for attracting more investors.

Market Performance: Despite a 19% rise in shares over the past six months, MSG Sports has underperformed the broader market, with only a 1% increase year-to-date compared to the S&P 500's 15% gain.

Analyst Consensus: The consensus among analysts is mixed, with five out of nine rating MSG Sports as a buy, while the average 12-month price target suggests a 10% upside potential.