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.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NWSA:
- Morgan Stanley Backs Chipmaker Qorvo after Starboard Stake
- Associated Press teams with Google Gemini to enhance real-time information
- AMD downgraded, Nike upgraded: Wall Street’s top analyst calls
- News Corp. initiated with a Buy at Citi
- News Corp. price target lowered to $41 from $44 at Loop Capital