UPDATE: BTIG Research Upgrades 21st Century Fox to Buy, Names $40 PT on Multiple Positive Factors

In a report published Friday, BTIG Research analyst Richard Greenfield upgraded the rating on

from Neutral to Buy, and named a $40.00 price target. In the report, BTIG Research noted, “We are upgrading 21st Century to BUY from Neutral and establishing a $40 price target. We believe that Fox's current asset mix, with a heavy emphasis around sports position the company for superior long term growth and a more defensible position in an evolving media landscape.” 21st Century Fox closed on Thursday at $34.32.