As previously reported, Wolfe Research upgraded Fox Corp. to Peer Perform from Underperform and removed the firm’s previous $32 price target. While linear TV advertising declines, sports and other live programming, which are “the foundation of Fox’s TV business,” are separating from the pack with gentle audience declines and solid pricing, the analyst tells investors. The bull case for Fox’s relative ad sales resilience has gained ground over the last year, the analyst added.
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