Canaccord Genuity Reiterates a 'Buy/Top Pick' on News Corp. (NWSA); Leading Franchises Poised for '13 Growth
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Price: $32.23 +2.12%
Rating Summary:
18 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Rating Summary:
18 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Trade NWSA Now!
Canaccord Genuity reiterates a 'Buy' on News Corp. (NASDAQ: NWSA) price target of $25.00.
Analyst, Thomas Eagan, said, "NWSA remains one of our top picks among Content stocks under coverage. With its leading global franchises in TV, Film and Print, the company is positioned to beat most of its peers by growing FY13 AOI (adjusted operating income) in the mid-teens. The stock trades at the bottom of its peer group, however, due largely to concerns with M&A risk and of contagion from the UK hacking scandal. We believe that the company’s continued aggressive share repurchases will help to reduce the multiple discount and, coupled with strong AOI growth, lead to our $25 target."
Lowers Q4 revenue estimate from $8.93B to $8.84B. Raises FY13 from $35.07B to $35.30B and FY13 EPS estimate from $1.71 to $1.75.
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 $19.20 yesterday, with a 52 week range of $13.38-$20.70.
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Analyst, Thomas Eagan, said, "NWSA remains one of our top picks among Content stocks under coverage. With its leading global franchises in TV, Film and Print, the company is positioned to beat most of its peers by growing FY13 AOI (adjusted operating income) in the mid-teens. The stock trades at the bottom of its peer group, however, due largely to concerns with M&A risk and of contagion from the UK hacking scandal. We believe that the company’s continued aggressive share repurchases will help to reduce the multiple discount and, coupled with strong AOI growth, lead to our $25 target."
Lowers Q4 revenue estimate from $8.93B to $8.84B. Raises FY13 from $35.07B to $35.30B and FY13 EPS estimate from $1.71 to $1.75.
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 $19.20 yesterday, with a 52 week range of $13.38-$20.70.
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