Nomura Securities Maintains a 'Buy' on News Corp. (NWSA); Adjusting Estimates

Nomura Securities maintains a 'Buy' on News Corp. (NASDAQ: NWSA), PT $20.

Nomura analyst, Michael Nathanson, says, "Amidst the continual headlines, News Corp will report F4Q earnings on August 10. We are tweaking our estimates down by a penny to $0.31 – still $0.01 better than consensus – due to slightly worse Film results."

"Following the announcement of the $5 billion buyback and some other modeling revisions, we are raising both FY2012 OI growth and FY2012 EPS estimates. FY2012 EPS goes from $1.34 to $1.42 while FY2013 moves from $1.50 to $1.69, above consensus levels. Our target price goes to $20 after we factor in our revised estimates and lower multiple."

For more ratings news on News Corp. click here and for the rating history of News Corp. click here.

Shares of News Corp. closed at $15.64 yesterday.

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