UPDATE: Stifel Initiates Coverage on Twenty-First Century Fox with Buy Rating, $41 PT on Multiple Positive Factors

In a report published Friday, Stifel analyst Benjamin Mogil initiated coverage on Twenty-First Century Fox FOXA with a Buy rating and $41.00 price target. In the report, Stifel noted, “We are initiating coverage on Fox with a Buy rating and a target price of $41. We believe the company's collection of sports rights with a full suite from broadcast to RSN positions the company well for retransmission and increasingly reverse retransmission discussions. While the broadcast channel entertainment ratings remain in flux, the FX channel suite has seen strong ratings and a good programming halo. On the film side, we believe Fox's historically strong position abroad positions the company very well given that the incremental box office globally is coming from emerging and less developed markets.” Twenty-First Century Fox closed on Thursday at $24.86.