UBS Turns Bullish on Fox; Sees 33 Percent Upside

By Benzinga
January 24, 2022 Updated: January 24, 2022

UBS analyst John Hodulik upgraded Fox Corp. to Buy from Neutral with a price target of $50, up from $42, suggesting an upside of 32.66 percent.

The analyst sees the company as better positioned given its sports betting optionality, measured DTC spend, and leadership within the legacy Pay TV bundle with its sports and news focus.

Hodulik adds that he sees upside to Fox Corp. EBITDA estimates from a ramping renewal cycle, strong political ad spend, the Super Bowl, a reset NFL costs, and lower DTC dilution.

The analyst also believes that the company is well-positioned to drive stable-to-growing profits over the long term as peers face more “challenging paths.”

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.