Analyst Doug Creutz from TD Cowen maintained a Hold rating on Fox and increased the price target to $55.00 from $53.00.
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Doug Creutz has given his Hold rating due to a combination of factors influencing Fox’s current financial standing. Despite Fox’s Q1 results surpassing expectations, driven by strong advertising performance and cost management, the overall outlook remains cautious. The company’s revenue and adjusted EBITDA were above estimates, reflecting robust performance in cable networks and television advertising, particularly with Tubi’s profitability and strong sports ratings.
However, despite these positive results, the decision to maintain a Hold rating suggests a balanced view of potential risks and rewards. The ongoing investments in digital growth and programming costs, alongside the uncertainty surrounding the accelerated share repurchase program, contribute to this cautious stance. The increase in the price target from $53 to $55 reflects optimism, yet the Hold rating indicates a wait-and-see approach as the company navigates these dynamics.
In another report released on October 22, Evercore ISI also maintained a Hold rating on the stock with a $55.00 price target.