Bank of America Securities analyst Jessica Reif Ehrlich has reiterated their bullish stance on FOXA stock, giving a Buy rating yesterday.
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Jessica Reif Ehrlich has given her Buy rating due to a combination of factors that highlight Fox’s strategic positioning and financial prospects. The company’s focus on live content, particularly in news and sports, positions it favorably compared to other segments in the linear bundle. Additionally, the resolution of the Murdoch Family Trust dispute supports the stability of Fox’s strategic direction, reducing the risk of a company breakup.
Fox’s financial outlook is bolstered by anticipated growth in cable revenue and a solid advertising environment, despite challenging comparisons from previous quarters. The company’s strong balance sheet is expected to facilitate strategic investments, potentially in areas like TikTok, as indicated by interest from political figures. Furthermore, the potential renegotiation of the NFL media rights deal could extend the duration of rights, benefiting Fox. These factors, along with a raised price objective reflecting multiple expansion, underpin the Buy rating.
In another report released yesterday, UBS also maintained a Buy rating on the stock with a $65.00 price target.