Fox Corp. price target lowered to $80 from $87 at Goldman Sachs

Goldman Sachs analyst Michael Ng lowered the firm’s price target on Fox Corp. (FOXA) to $80 from $87 but keeps a Buy rating on the shares. The firm cites the company’s Q2 EBITDA beat that was driven by better-than-expected advertising revenue which outperformed despite political advertising comps and better-than-expected operating expenses, the analyst tells investors in a research note. The firm adds however that opex growth should be heightened in the rest of the second half of FY26, reflecting sports timing in cable, potential legal expenses, and more Entertainment in TV.