Nomura Securities Reiterates a 'Buy' on News Corp. (NWSA); Raising FY13 on Q3 Upside

May 10, 2012 11:00 AM EDT
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Price: $12.23 +1.49%

Rating Summary:
    19 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 10
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Nomura Securities reiterates a 'Buy' on News Corp. (NASDAQ: NWSA) price target of $23.00.

Analyst, Michael Nathanson, said, "NWSA reported F3Q adj. EPS of $0.37 vs. our $0.32 estimate and consensus of $0.31, with EBIT strength across the board. However, NWS guided to a more difficult F4Q and expects FY12 to be towards the bottom end of the low double digits to mid-teens growth. The company announced that it is increasing its buyback authorization by an additional $5bn to $10bn.Our FY12E EPS remains unchanged at $1.40, but we are increasing CY13 from $1.88 to $1.92. We believe the higher buyback authorization and another year of double-digit EBIT growth makes NWSA one of the most attractive media stocks."

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 $19.38 yesterday.

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