NWS - Morgan Stanley rates the stock as Overweight
PUBLISHED
2021-11-08
Content
Upon an initial look at News Corp's 1Q result, Morgan Stanley assesses stronger numbers than consensus expected for Dow Jones, Real Estate, Books, Foxtel and News. Accelerating growth for Move has particularly impressed (it is now outpacing competitors).
After 1Q earnings (EBITDA) growth of 53%, the analyst estimates 16% is required for the next nine months to make full year consensus of 24% growth. The Overweight rating and $32 target price are maintained.
Sector: Media.
Target price is $32.00.Current Price is $33.02. Difference: ($1.02) - (brackets indicate current price is over target). If NWS meets the Morgan Stanley target it will return approximately -3% (excluding dividends, fees and charges - negative figures indicate an expected loss).