Nomura Securities Maintains a 'Buy' on News Corp. (NWSA); Q4 Exceeded Expectations
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Price: $28.70 --0%
Rating Summary:
23 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 20
Rating Summary:
23 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 20
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Nomura Securities maintains a 'Buy' on News Corp. (NASDAQ: NWSA) price target lowered $1 to $19.
Nomura analyst, Michael Nathanson, says, "Reported F4Q results that exceeded expectations with EPS of $0.35 vs. our estimate of $0.31 and consensus of $0.30. Guidance for FY12 for low-to-mid teens is in line with our estimate. Affiliate fees continue to play an important part of the growth with significant affiliate and retransmission deals coming up over the next year and a half. Management reiterated they would use up $5bn authorization in the next fiscal year with the possibility of additional authorizations if stock continues to be undervalued. We reiterate our Buy. Our PT moves to $19 based on higher earnings and a lower market multiple."
For more ratings news on News Corp. click here and for the rating history of News Corp. click here.
Shares of News Corp. closed at $13.71 yesterday.
Nomura analyst, Michael Nathanson, says, "Reported F4Q results that exceeded expectations with EPS of $0.35 vs. our estimate of $0.31 and consensus of $0.30. Guidance for FY12 for low-to-mid teens is in line with our estimate. Affiliate fees continue to play an important part of the growth with significant affiliate and retransmission deals coming up over the next year and a half. Management reiterated they would use up $5bn authorization in the next fiscal year with the possibility of additional authorizations if stock continues to be undervalued. We reiterate our Buy. Our PT moves to $19 based on higher earnings and a lower market multiple."
For more ratings news on News Corp. click here and for the rating history of News Corp. click here.
Shares of News Corp. closed at $13.71 yesterday.
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