Needham & Company Downgrades News Corp. (NWSA) to Hold; Witch Hunt

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August 22, 2011 8:06 AM EDT
Get Alerts NWSA Hot Sheet
Price: $29.16 +0.76%

Rating Summary:
    23 Buy, 4 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Needham & Company downgraded News Corp. (NASDAQ: NWSA) from Buy to Hold.

Needham analyst says, "We are downgrading NWSA and suspending our target price based on NWSA’s rising risk profile. Weakening markets, new government investigations, growing litigation expenses, and a witch hunt for the Murdoch’s add risk to owning NWSA."

"Bottom line: Since public shareholders have the benefit of liquidity, we prefer CBS and Viacom to NWSA because they share the risk of market weakness but don’t share other NWSA-specific risks."

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 $15.56 yesterday.

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