Morgan Stanley resumed coverage of News Corp. with an Overweight rating and $27.50 price target. News Corp. still has a large cyclical media earnings component, and while the last 12 months have been challenging, there are signs of stabilization in the earnings outlook, both for the advertising-linked business and also the real estate-linked businesses, the analyst tells investors in a research note. The firm forecasts the company returns to positive earnings growth in fiscal 2024 and through to 2026.
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