NWS continues its trajectory upward as it moves towards splitting.
Wether you like or dislike the Murdocks its irrelevant as we all like making money.
The new price target has been set at US$27 for the Fox business and US$2 for the News business. Thats a combined value of $29. Currently it trades at $27.03. So there is a further US$2 upside and if we see some weekness in the A$ it will only leverage the upside.
What hasn't really been looked at is the numerous acquisitions the Fox business has been making over the past few months and the buy back continues. My expectation is that there may be an upwards earnings surprise in the coming few quarterly results adding weight and support to the SP.
Wouldnt it be good to see the A$ drop below parity like it did back in late May early June!
NWS Price at posting:
$23.73 Sentiment: Hold Disclosure: Held
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