Citi opens ‘positive catalyst watch’ on News Corp. into ruling

Citi opened a “90-day positive catalyst watch” on shares of News Corp. (NWSA) while keeping a Buy rating on the name with a $36 price target The firm sees scope for a ruling in the Murdoch family trust case in Nevada court within 90 days. A loss may ultimately result in News Corp. moving to a single class of shares, a potential prerequisite of an REA spin, the analyst tells investors in a research note. Citi says that if the trust remains intact, the company may convert to a single class of shares. would boost the family’s economic stake in News Corp., it adds.