21st Century Fox Shares Added To Credit Suisse's Global, US 'Focus List'

Credit Suisse's Omar Sheikh increased his price target on

from $37.00 to $40.00 and maintained an Outperform rating. Notably, the analyst added the stock to the firm's "Focus List." Sheikh said Twenty-First Century Fox shares are now considered one of its top investment ideas. The analyst highlighted an expectation for Hulu to launch a new service which will provide over 50 live broadcast and cable networks plus a wider on-demand library and season catch-up for only $40 a month. "We believe the product will have wide commercial appeal and attractive economics," Sheikh said. He raised Hulu's valuation to $25 billion. The valuation is based on the fact that Hulu's new product will reach -- as a conservative estimate -- 10 to 20 million subscribers by 2020. "A "blue sky" scenario in which Hulu live streaming gets to 20 million subscribers would boost EBIT to $3 billion and its valuation to $35 billion, Sheikh said.