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

February 7, 2013 2:17 PM EST
Get Alerts NWSA Hot Sheet
Price: $11.97 -0.58%

Rating Summary:
    19 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade NWSA Now!
Join SI Premium – FREE
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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Nomura, Earnings

Add Your Comment