Nomura Securities Reiterates a 'Buy' on News Corp. (NWSA); Australian Takeover
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Price: $33.09 +0.67%
Rating Summary:
19 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
19 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade NWSA Now!
Nomura Securities reiterates a 'Buy' on News Corp. (NASDAQ: NWSA) price target of $23.00.
Analyst, Michael Nathanson, said, "We see the CMJ acquisition as a positive incremental use of cash in addition to the company’s recently increased $10bn share buyback authorization, which we still expect to be completed by the end of FY13. Smarter uses of cash, coupled with strong buybacks and double-digit
EBIT growth make News Corp one of the most attractive media stocks in our coverage universe."
NOTE - Last night, NWSA tendered an offer to buy Consolidated Media Holdings (CMJ) for A$3.50 a share, or A$1.97bn ($2bn USD). News Corp would get full ownership of Fox Sports Australia and double the company’s stake in TV distributor Foxtel to 50%.
Nomura sees FY13 EPS estimate at $1.92 vs. Street consensus of $1.70.
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 $20.24 yesterday, with a 52 week range of $13.38-$20.70.
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Analyst, Michael Nathanson, said, "We see the CMJ acquisition as a positive incremental use of cash in addition to the company’s recently increased $10bn share buyback authorization, which we still expect to be completed by the end of FY13. Smarter uses of cash, coupled with strong buybacks and double-digit
EBIT growth make News Corp one of the most attractive media stocks in our coverage universe."
NOTE - Last night, NWSA tendered an offer to buy Consolidated Media Holdings (CMJ) for A$3.50 a share, or A$1.97bn ($2bn USD). News Corp would get full ownership of Fox Sports Australia and double the company’s stake in TV distributor Foxtel to 50%.
Nomura sees FY13 EPS estimate at $1.92 vs. Street consensus of $1.70.
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 $20.24 yesterday, with a 52 week range of $13.38-$20.70.
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