Nomura Reiterates Bullish Stance on 21st Century Fox (FOXA) as Results Hold Steady
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Rating Summary:
21 Buy, 23 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Nomura Securities analyst Anthony DiClemente reiterated a Buy rating and $41 price target on 21st Century Fox (NASDAQ: FOXA) following solid Q1 results and reaffirmed guidance.
DiClemente commented, "Fox reported 1Q15E results that were modestly ahead of our estimates. Results at Cable Network Programming and at Television were in line, with recurring US cable ad growth at roughly 5%; all of the beat versus our estimates came from the film segment. Management reaffirmed guidance of EBITDA growth rate for F2015E in the high-single-digit range above the $6.29bn base level for F2014. The company highlighted the difficult start to the new broadcast season; management noted that they “have work to do”. With that said, the company was pleased to see the World Series go to 7 games, one game more YoY. Our updated model continues to exclude DBS assets from operating results."
FY15E EPS at $1.7; FY16E EPS from $2.33 to $2.34.
For an analyst ratings summary and ratings history on 21st Century Fox click here. For more ratings news on 21st Century Fox click here.
Shares of 21st Century Fox closed at $33.33 yesterday.
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