Citi analyst Jason Bazinet initiated coverage of News Corp. (NWSA) with a Buy rating and $36 price target Over the next 24 months, the firm expects management to increase the ownership of REA from 61% to 80% and spin-off REA to News Corp’s shareholders. Collectively, these levers could unlock $22 of share value, the analyst tells investors in a research note. At prevailing share levels, Citi sees $2 of downside and $22 of upside, a favorable risk/reward.
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