Macquarie raised the firm’s price target on Fox Corp. (FOXA) to $30 from $29 and keeps a Neutral rating on the shares. Fox’s Q2 results were “mixed,” but this was overshadowed by the new Fox, Disney (DIS) and Warner (WBD) sports streaming joint venture news, which the firm calls a “much-needed revenue stream for Fox.” However, the JV is also putting pay TV at more risk, adds the firm, who are “not fans of the business model but recognizing below-the-line asset value.”
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Read More on FOX:
- FOX REPORTS SECOND QUARTER FISCAL 2024 REVENUES OF $4.23 BILLION, NET INCOME OF $115 MILLION, AND ADJUSTED EBITDA OF $350 MILLION
- Fox Corp. reports Q2 adjusted EPS 34c, consensus 12c
- Notable companies reporting before tomorrow’s open
- Fox Corp., Warner Bros up over 3% afterhours, Disney slips 1% on sports DTC deal
- ESPN, FOX and Warner Bros. Discovery confirm forming streaming sports JV
