Market Overview

UPDATE: Wunderlich Securities Raises PT to $29 on News Corporation on Deal Closure

Related NWSA
Top 4 NASDAQ Stocks In The Broadcasting-TV Industry With The Highest ROE
News Corp Defends Print, Sees Consolidation In Book Sector
What the Tribune Split Means for the Newspaper Biz (Fox Business)

Wunderlich Securities reiterated its Buy rating on News Corporation (NASDAQ: NWSA) and raised its price target from $27 to $29.

Wunderlich Securities said, "We remain positive on Buy-rated News Corporation (NWSA) and have updated our forecast and valuation model for last week's 49% YES interest purchase and the closure of the Consolidated Media Holdings deal. Our new S&P 500 derived target is $29. Even as YES is valued initially at $3.0bn, News is further locking in more sports rights with a supposed imminent 25-year $6bn TV deal with the L.A. Dodgers. The new publishing entity could also morph quickly with indications that major U.S. metro papers and even publisher Simon & Schuster are in play. Despite continued U.K. and even U.S. investigation headline risk, News is again proactive in M&A and may look to increase its Sky Deutschland position following a favorable tax ruling."

News Corporation closed at $24.30 on Friday.

Latest Ratings for NWSA

Nov 2014JefferiesMaintainsBuy
Oct 2014MacquarieUpgradesUnderperformNeutral
Oct 2014MacquarieUpgradesUnderperformNeutral

View More Analyst Ratings for NWSA
View the Latest Analyst Ratings

Posted-In: Wunderlich SecuritiesAnalyst Color Price Target Pre-Market Outlook Analyst Ratings


Related Articles (NWSA)

Around the Web, We're Loving...

Get Benzinga's Newsletters