Loop Capital raised the firm’s price target on Fox Corp. to $46 from $43 and keeps a Buy rating on the shares. The firm notes its positive view on the “inexpensive” stock is rooted in the company’s strategic news and sports focus and the avoidance of the high-priced streaming wars. Fox News ratings also grew 75% in the core demo during the September quarter, political fundraising is at record levels which should lead upside in political advertising, the MLB playoffs have larger market teams in the early round which should lead to higher World Series ratings, and Fox will also l broadcast the Super Bowl in February, the analyst tells investors in a research note.
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:
- Comcast (CMCSA) Sues WBD Over Alleged Contract Violations
- Fox Corp. price target raised to $50 from $45 at BofA
- Fox Corp. price target raised to $41 from $38 at JPMorgan
- Palantir, Dell Technologies named to join S&P 500: Morning Buzz
- Seaport downgrades Fox Corp. with shares above prior target