Loop Capital keeps a Buy rating and $38 price target on Fox Corp while naming the stock to the firm’s Best Ideas list for 2024. The company is best positioned of the traditional media companies based on its news and sports focus, which has consistently led to the strongest advertising performance of the traditional media companies, the analyst tells investors in a research note. Fox Corp shares also trade at the lowest multiple in its peer group even as it avoided the high-priced streaming wars, has one of the strongest balance sheets, and could be involved in the likely future media industry consolidation, the firm added.
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