Madison Square Garden (MSG) stock was trading up 4% this morning to $28.70 after Christopher Williams of Barron’s wrote that the company’s shares could rise above $50 per share on strength in its broadcast networks and revenue growth at the Madison Square Garden arena in New York. And, oh yeah, they have this kid from Brooklyn playing for them now named Carmelo. He’s helping MSG fill seats. (Just don’t expect him to play defense.) MSG is up more than 25% since it was spun out of Cablevision (CVC) last year. On a sum of the parts basis, Williams reports that MSG could be worth as much as $54 per share, based on an analysis by Chris Marangi of Gamco Investors, which owns a sizable stake in MSG. New renovations to the arena will add luxury boxes and allow companies to buy more targeted advertising. That should add to the company’s already considerable free cash flow, Williams writes. And with the Dolan family owning a controlling stake in the company, there could be a buyout in the company’s future, according to Barrons.