Fox Corp. price target raised to $40 from $38 at Morgan Stanley
The Fly

Fox Corp. price target raised to $40 from $38 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Fox Corp. (FOXA) to $40 from $38 and keeps an Equal Weight rating on the shares. A strong political cycle, strength in sports and news ratings, and accelerating revenue growth at Tubi anchor the firm’s $3.1B EBITDA forecast for FY25, which it notes is “modestly ahead of consensus.” However, if cord-cutting levels remain in the high-single-digit range as they are today for Fox, it could still prove challenging for the core business to grow consolidated EBITDA on an organic basis over the long term, the analyst tells investors.

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