21st Century Fox (FOXA) Bullish Stance Reiterated at Needham & Company Post Q3

Needham & Company analyst Laura Martin reiterated a Buy rating and $36 price target on 21st Century Fox (NASDAQ: FOXA) following Q3 results.

Martin comments, "FOXA reported revenue of $8.219B (up 12% and 2% above our estimates) and Operating EPS of $0.47 (up 47% and 34% above our estimates). OIBDA overdelivery came from the film, TV and cable network segments, offset in part by the DBS TV segment. The EPS overdelivery was aided by a 20% tax rate in the quarter. We maintain our Buy rating and $36 Target Price."

The firm raised FY 2014 EPS from $1.45 to $1.50 and lowered FY 2015 EPS form $1.83 to $1.75.

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 $32.12 yesterday.

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