Nomura reiterated its Buy rating on News Corporation NWSA and increased its price target from $26 to $28.
Nomura said, "When looking at the assets of “Good News”, most investors are familiar with the US-based collection of cable networks. In contrast, News Corp‟s International assets are less well known and analyzed. As part of our annual 10-K review, we have decided to focus on the dynamics and growth drivers of Fox International Channels. As a percentage of total FY12 Good NWS revenues, International Cable (including Fox International Channels and STAR India) represented over 10% of revenues and 15% of EBIT at $2.75bn and $780mn, respectively. For FY13, we are leaving our EBIT essentially unchanged at 9% and still in line with the company‟s guidance."
News Corporation closed at $25.12 on Monday.
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