UPDATE: Morgan Stanley Upgrades News Corporation to Overweight; Discount No Longer Applies
Morgan Stanley upgraded News Corporation (NASDAQ: NWSA) from Equal-weight to Overweight and announced a $32.00 price target.
Morgan Stanley noted, "Upgrading to OW on superior organic growth post mid-‘13 Publishing spin. Roughly 90% of the remaining Fox Group's EBITDA comes from well-positioned TV assets. With falling complexity and greater capital allocation visibility, the historic NWS discount should fade. NWSA now joins MS Best Ideas list."
News Corporation closed at $27.21 on Friday.
Latest Ratings for NWSA
|May 2014||Credit Suisse||Upgrades||Neutral||Outperform|
|Dec 2013||S&P Capital||Downgrades||Buy||Hold|
|Nov 2013||FBR Capital||Initiates Coverage on||Market Perform|
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