Fox Corp. price target raised to $39 from $35 at Macquarie

Macquarie raised the firm’s price target on Fox Corp. (FOXA) to $39 from $35 and keeps a Neutral rating on the shares, citing a higher sum-of-the-parts valuation following the company’s top- and bottom-line beats in fiscal Q1. Fox spoke of a strong ad market for news and sports and provided a bit more clarity on events in the next few quarters that will affect EBITDA, the analyst noted.