Morgan Stanley analyst Benjamin Swinburne raised the firm’s price target on Fox Corp. to $39 from $37 and keeps an Equal Weight rating on the shares following the company’s fiscal Q2 results and announcement of a $1B accelerated stock repurchase. Results were "broadly in line," said the firm, which adds that it sees the repurchase plan as "a clear positive" given how accretive buybacks are at the current valuation.
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Published first on TheFly
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