Loop Capital analyst Alan Gould lowered the firm’s price target on News Corp. (NWSA) to $41 from $44 but keeps a Buy rating on the shares. The company’s sale of Foxtel to DAZN for $2.1B simplifies its business and creates a “more liquid asset” while also eliminating a low-multiple division, the analyst tells investors in a research note. Loop adds that its reduced price target reflects its mark-to-market adjustment on REA Group valuation.
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