Shares of Madison Square Garden Sports could see sizable upside if the New York Knicks’ NBA Finals run against the San Antonio Spurs extends to a sixth game. It’s the Knicks’ first NBA Finals since 1999. The first game will tip off at 8:30 p.m. ET on Wednesday at the Frost Bank Center in San Antonio, Texas. Ahead of the event, Guggenheim reiterated its buy rating on Madison Square Garden Sports and lifted its price target to $470 from $422. “We are updating our model to include 9 home Knicks play-off games (the guaranteed minimum — if the Knicks reach Game 6 of the NBA Finals at The Garden we would potentially add another $15mm+ in revenue),” according to the note. MSGS YTD mountain Madison Square Garden Sports in 2026 Guggenheim said the finals series is one of several catalysts that could help unlock value at Madison Square Garden Sports, including an anticipated spin-off that would split the Knicks and the New York Rangers into two separate businesses. Another catalyst for the stock would be the potential NBA expansion in Las Vegas and Seattle, which could bring $450 million to $700 million for the Knicks, Guggenheim said. The firm also pointed to an expected NBA expansion in Europe. Madison Square Garden Sports’ shares should trade at $540 to over $570 per share, a premium of roughly 48% to the current share price, Guggenheim said. The firm’s analysis was based on third-party valuations that put the Rangers anywhere between $3.65 billion and $4 billion and the Knicks between $9.75 billion and $10.1 billion. Last month, Madison Square Garden Sports Corp. reported its fiscal third quarter results, posting revenue of $432.2 million, beating the FactSet consensus of $429.7 million. “Our results this quarter again reflect growth in per-game revenues across all key categories, which is driven by strong demand for our teams. We are also now exploring a potential separation of our Knicks and Rangers businesses into distinct public companies, which we believe would further create long-term value for shareholders,” Madison Square Garden Sports executive chairman and CEO James L. Dolan said in the release .
