In a report published Wednesday, ISI Group analyst Vijay Jayant initiated coverage on 21st Century Fox FOXA with a Strong Buy rating and $38.00 price target.
In the report, ISI Group noted, “We are initiating coverage of 21st Century Fox (FOXA) with a Strong Buy rating (Top Pick) and a 2014 YE price target of $38. At the end of June 2013, News Corp. split into two companies: the higher-growth 21st Century Fox group, consisting of broadcast & cable networks with strong international growth; 20th Century Fox Film & TV studios; and direct broadcast satellite (DBS) assets in Italy, Germany and the UK. The second company is the ‘New' News Corp., which holds the US, UK & Australian newspaper, free-standing inserts, and information businesses; Harper Collins book publishing; Australian cable network and online real estate services; and the young but unprofitable Amplify education businesses.”
21st Century Fox closed on Tuesday at $32.22.
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