Nomura Securities Reiterates a 'Buy' on News Corp. (NWSA); Formal Split

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Nomura Securities reiterates a 'Buy' on News Corp. (NASDAQ: NWSA) price target of $23.00.

Analyst, Michael Nathanson, said, "Key Highlights: 1) Continue to Buy Back Stock – News Corp. confirmed that it would continue to buy back stock over the upcoming period. 2) Australia Stays Together – News Corp. is seeking to acquire Consolidated Media Holdings for $2bn. 3) A Lot of Cash Stays with Print –To fund future acquisitions and further investments in education, the new publishing company will be net cash positive. We believe that today’s announcement, coupled with strong buybacks and double-digit EBIT growth, makes News Corp. one of the most attractive media stocks in our coverage universe."

For an analyst ratings summary and ratings history on News Corp. click here. For more ratings news on News Corp. click here.

Shares of News Corp. closed at $21.99 yesterday, with a 52 week range of $13.38-$22.73.

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