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.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
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
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue