Macquarie raised the firm’s price target on Fox Corp. to $32 from $30 and keeps a Neutral rating on the shares. The analyst updated media industry metrics and models as media network reporting season ends. Advertising trends improved while linear subscribers fell further, the analyst tells investors in a research note. The firm says that while direct-to-consumer “helps to a point,” there is “much more news to come.” It notes that pay TV subs stepped down further to negative 10.4% year-over-year at the large public cable and satellite operators.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FOXA:
- Shopify upgraded, SolarEdge downgraded: Wall Street’s top analyst calls
- Fox Corp. price target raised to $39 from $38 at Deutsche Bank
- Fox Corp. upgraded to Buy at BofA on expected FY25 earnings acceleration
- Fox Corp. upgraded to Buy from Neutral at BofA
- FOX REPORTS THIRD QUARTER FISCAL 2024 REVENUES OF $3.45 BILLION, NET INCOME OF $704 MILLION, AND ADJUSTED EBITDA OF $891 MILLION