Loop Capital analyst Alan Gould upgraded Fox Corp. (FOXA) to Buy from Hold with a price target of $40, up from $34, after Rupert Murdoch withdrew his proposal to merge the company with News Corp. (NWSA). Fox is an under-levered media company trading at four-times EBITDA and is strategically well positioned with a news and sports focus and not participating in the high-cost streaming business, the analyst tells investors in a research note. Fox is the network least impacted by streaming and will similarly be the least impacted by a potential guild strike this spring, the firm contends. Loop’s private market value for Fox is $48 per share.
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Published first on TheFly
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