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FOXA

21st Century Fox

$36.54

0.68 (1.90%)

11:30
01/04/18
01/04
11:30
01/04/18
11:30

Hefty time spread opened in 20th Century Fox

Hefty time spread opened in 20th Century Fox. The stock flat at $38.56 and 18.8K Jul - Jan2019 40 call spreads bought for $1.35. 20K trade on the day and the position expresses the view that shares will likely hold below $40 through the July expiration (or not rally more than 9.5%) and then potentially head higher into the January 2019 expiration. Note that the company's M&A ($52.4B stock acquisition) with Disney (DIS) is expected to close late-June, but FOXA's IV of more than 20% hardly suggests ongoing uncertainty related to the deal.

FOXA 21st Century Fox
$36.54

0.68 (1.90%)

01/02/18
LOOP
01/02/18
NO CHANGE
Target $241
LOOP
Buy
Netflix is 'Best Idea for 2018', says Loop Capital
Loop Capital analyst David Miller calls Netflix (NFLX) his Best Idea for 2018, keeping a Buy rating on the stock while nudging his price target to $241 from $237. Miller says the company will follow up on last year's "notable" subscriber growth with "true operating leverage" this year. The analyst also contends that Disney's (DIS) acquisition of 21st Century Fox (FOXA) entertainment assets does not necessarily make it a winner in the Over-The-Top space, since it may not launch a competitive service until mid-2019.
01/03/18
RBCM
01/03/18
NO CHANGE
Target $135
RBCM
Top Pick
Disney price target raised to $135 from $125 at RBC Capital
RBC Capital analyst Steven Cahall raised his price target on Disney (DIS) to $135 and kept his Top Pick rating. Cahall says the company deserves to trade at a premium to the market based on its insulation to ecosystem challenges, anticipated "major" tax reform benefits, and evolving content with the 21st Century Fox (FOXA) deal. The analyst adds that the company's Consumer Products, Studio, and Parks segments will continue to provide years of steady cash flow and growth.
01/03/18
RBCM
01/03/18
NO CHANGE
Target $43
RBCM
Outperform
21st Century Fox price target raised to $43 from $34 at RBC Capital
RBC Capital analyst Steven Cahall raised his price target on 21st Century Fox (FOXA) to $43 and kept his Outperform rating in the wake of the asset sale to Disney (DIS). Cahall says the valuation on the SpinCo implies a 20% free cash flow yield relative to 7% at its peer CBS (CBS), and expects this discount to be corrected with an upside in the stock once the deal is fully priced in. The analyst also sees the immediate outlook for the company's revenue growth as "solid".
01/04/18
WELS
01/04/18
NO CHANGE
WELS
Media sector upgraded to Over Weight from Market Weight at Wells Fargo
Wells Fargo analyst Marci Ryvicker upgraded the Media sector to Over Weight from Market Weight citing her positive views on shares of 21st Century Fox (FOXA), Disney (DIS), CBS (CBS) and AMC Networks (AMCX). Fox is the analyst's top near-term pick in the space, with Disney "a close second."

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