Bad News Already Priced Into News Corp (NWSA) Stock - Analyst

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Yesterday News Corp. (NASDAQ: NWSA) reported earnings that fell short of expectations. Management gave three reasons for the shortfall – weak ratings at Fox, subscriber losses at Sky Italia, and a challenging macro environment in Australia.

"Taking it all in, it sounded like a lot to swallow," said Nomura analyst Michael Nathanson. "However, upon further review of our estimates, aside from a material decrease at Sky Italia, we believe that we had already incorporated most of the Television and Publishing weakness."

Nathanson said he valued Fox Group at $29. He values New News Corp at $2 per share, for a combined price target of $31. This is an increase from his previous price target of $29 per share.

Nomura Securities has a Buy rating on News Corp.

For an analyst ratings summary and ratings history on News Corp. (NASDAQ: NWSA) click here. For more ratings news on News Corp. click here.

Shares of News Corp. closed at $28.22 yesterday, with a 52 week range of $18.32-$28.43.

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