Topeka Comments on 21st Century Fox (FOXA)/Discovery (DISCA) Rumor
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Topeka Capital maintained a Buy rating on 21st Century Fox (NASDAQ: FOXA) with a price target of $41. Analyst David W. Miller commented on recent rumors that suggested it was in talks to acquire Discovery Communications (NASDAQ: DISCA), calling a potential combination "a lot more plausible" than 21st Century Fox a and Time Warner (NYSE: TWX) merger.
"Throughout the trading day yesterday, various trade publications and wire services speculated that FOXA was in acquisition talks with Discovery Networks (DISCA-$32.34:Buy). Of course, as is typical with these types of rumors, FOXA representatives denied any truth to the press reports, but in assessing the merits of such a deal, FOXA could conceivably achieve rich scale in networks supply in this type of combination, without having to pare assets," said Miller.
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 $35.37 yesterday.
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