News Corp. price target raised to $43 from $40 at Guggenheim

Guggenheim analyst Curry Baker raised the firm’s price target on News Corp. (NWSA) to $43 from $40 and keeps a Buy rating on the shares. The firm, which notes that it updated its model to reflect News’ agreement with DAZN for Foxtel, notes that at its “high level view on the Foxtel transaction is directionally positive.” The firm, which expresses the view that this will likely be the only action taken in the near-term as part of News’ strategic review, is “hopeful” that the improved balance sheet and liquidity profile will lead management to look at increased capital returns, the analyst added.