BofA raised the firm’s price target on Fox Corp. to $50 from $45 and keeps a Buy rating on the shares. The firm maintains its fiscal Q1 revenue estimate of $3.4B, but lowers its Q1 OIBDA estimate to $904M from $928M and its EPS estimate to $1.15 from $1.19 while maintains its FY25 revenue, OIBDA and EPS estimates. The firm raised its target multiple to reflect underlying momentum and visibility in the business, noting that it believes Fox is well-positioned in FY25 and should benefit from an improving advertising backdrop and a healthy balance sheet.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FOX:
- Fox Corp. price target raised to $41 from $38 at JPMorgan
- Palantir, Dell Technologies named to join S&P 500: Morning Buzz
- Seaport downgrades Fox Corp. with shares above prior target
- Fox Corp. downgraded to Neutral from Buy at Seaport Research
- Activist Starboard Wants to End News Corp’s Dual Listing Structure