Citi analyst Jason Bazinet started Fox Corp. with a Neutral rating and $40 price target. The analyst thinks the company "did the right thing" by splitting into two but he prefers to wait for a better entry point. Consensus estimates for the new Fox may not fully reflect the new costs associated with its WWE rights while the NFL renewal in 2022 "could emerge as an overhang," Bazinet tells investors in a research note. Further, he believes Fox's advertising exposure is high "given the duration of the economic expansion."
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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here