Twenty-First Century Fox (FOXA) PT Raised to $34 at FBR Following Solid Results

FBR analyst Barton Crockett reiterates Market Perform rating and increases price target to $34 (from $33) on Twenty-First Century Fox (NASDAQ: FOXA), suggesting the gameplan is working, as the company is enjoying solid performance from its News and Sports cable networks.

Crockett comments, “The company's broadcast network and TV stations are enjoying nice lifts from the extended World Series and Super Bowl. News and sports are boosting cable nets. The combined TV momentum looks strong enough to propel double-digit EPS growth, despite an emerging market hiccup at Star India and tough comps and choppiness in filmed entertainment. The appeal of this for the equity is mainly mitigated by secular concerns for the sector and the issue of whether the proposal to buy Sky is the best way to address those secular questions long term.”

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 $31.06 yesterday.

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