Fox Corp Price Target Raised to $67 After Q3 EPS $1.32 Beat
Barclays raised Fox Corporation’s price target to $67, just below its $67.72 trading price, after Q3 earnings of $1.32 per share beat forecasts of $1.02. Revenue of $3.99 billion topped expectations despite a drop from $4.37 billion a year earlier, while shares trade 33.2% above a $50.84 intrinsic value.
1. Price Target Increase and Market Reaction
On May 12, Barclays raised its price target for Fox Corporation to $67, up from $63, placing it just below the stock’s closing price of $67.72. The announcement followed a 7.6% share jump on May 11, reflecting positive sentiment after the latest earnings.
2. Third-Quarter Results and Advertising Drive
Fox reported third-quarter earnings of $1.32 per share, surpassing the $1.02 consensus estimate, driven by robust advertising sales in its sports and news divisions. Quarterly revenue reached $3.99 billion, exceeding forecasts but down from $4.37 billion a year earlier.
3. Valuation Metrics and Long-Term Outlook
Despite strong financial performance, shares trade 33.2% above a $50.84 intrinsic value, indicating potential overvaluation. The company’s GF Score of 84 out of 100 underscores solid fundamentals and long-term growth prospects despite the premium valuation.