Loop Capital raised the firm’s price target on News Corp. (NWSA) to $44 from $41 and keeps a Buy rating on the shares. The stock remains “highly attractive” and its valuation does not reflect its business mix driven by digital real estate and the B2B business of Dow Jones, the analyst tells investors in a research note. Among the potential catalysts, Loop notes that a Foxtel sale would help simplify the company and eliminate a low-multiple division. The firm also believes that there should be additional AI licensing opportunities for News Corp., both with additional customers and potentially in the book publishing division.
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