Pivotal Research Reaffirms Their Hold Rating on 21st Century Fox

By Austin Angelo

In a report released today, Brian Wieser from Pivotal Research maintained a Hold rating on 21st Century Fox (NASDAQ: FOXA), with a price target of $42. The company’s shares closed yesterday at $43.66, close to its 52-week high of $43.93.

Wieser said:

“We recognize some upside potential to this number if Disney makes a higher bid vs. its prior offer, which we see reflected in the slightly higher trading levels of Fox stock. However, we are also mindful of a potential outcome involving a division of the assets Fox would be selling. We continue to rate Fox Hold. Comcast has now formally made its bid to buy the same Fox assets Disney previously agreed to purchase. For Fox shareholders, this is clearly a positive event, and any upside that might follow from Disney responding with a higher bid of its own will be even more positive.”

According to TipRanks.com, Wieser is a 5-star analyst with an average return of 10.6% and a 73.9% success rate. Wieser covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Nielsen Holdings, and Discovery Comms.

21st Century Fox has an analyst consensus of Moderate Buy, with a price target consensus of $43.67.

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The company has a one-year high of $43.93 and a one-year low of $24.81. Currently, 21st Century Fox has an average volume of 10.2M.

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Twenty-First Century Fox, Inc. is a media company, which engages in television broadcasting and film production. It operates through the following segments: Cable Network Programming; Television; Filmed Entertainment; Direct Broadcast Satellite Television, and Other Corporate and Eliminations.