Wedbush Raises Price Target on News Corp. (NWSA) Ahead of Earnings

Wedbush is reaffirming its Outperform rating on shares of News Corp. (NASDAQ: NWSA) ahead of its Q2 release on February 8, 2012. The firm is also raising its price target from $20 to $21.

Ahead of the release, the firm is increasing its EPS estimate for the quarter from $0.32 to $0.33 to reflect higher film and TV segment estimates. Wedbush also forecasts management will reiterating its previous FY12 guidance.

"We continue to believe that the reduced outlook for 2012 advertising growth has made achievement of this guidance more challenging than at the time it was first given in mid-August," states an analyst at Wedbush.

The firm is reaffirming its FY12 and FY13 EPS estimates of $1.37 and $1.66.

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 $19.56 yesterday.

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