Nomura Securities Reiterates a 'Buy' on News Corp (NWSA); Broad Based Beat

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November 3, 2011 7:12 AM EDT
Get Alerts NWSA Hot Sheet
Price: $29.16 --0%

Rating Summary:
    23 Buy, 4 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 19
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Nomura Securities reiterates a 'Buy' on News Corp. (NASDAQ: NWSA) price target of $20.00.

Nomura analyst, Michael Nathanson, says, "This story is getting very clean. Strong ratings at broadcast and cable networks should both drive FY12 ad and affiliate fee growth and retrans/reverse retrans negotiations over the next few years. MySpace has been wiped clean from the financials and we estimate that Publishing will represent less than 15% of total Operating Income. Plus, the timing of the $5bn buyback is ahead of plan. Our PT moves to $20 (from $18) based on higher earnings and 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 $16.90 yesterday.

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