J.P.Morgan upgrades Fox to 'overweight', shares rise

Fox

14/08/2026 11:57

** Shares of media major Fox Corp FOXA.O rise over 2% to $66.85 premarket
** J.P.Morgan upgrades stock to "overweight" from "neutral", hikes PT to $82 from $70
** Says cyclical events, including FIFA World Cup, provide earnings momentum through mid-2027 for FOXA
** The new price target represents a ~25% upside to the stock's last close
** JPM also sees "meaningful rerating potential" as the market begins underwriting the combined Fox-Roku entity as a scaled CTV platform with first-party data and advertising optionality
** 11 of 21 brokerages rate the stock "buy" or higher, nine "hold" and one "sell" or lower; their median PT is $73 - LSEG-compiled data
** Up to Thursday's close, stock down 10.5% YTD

 (Reporting by Joel Jose in Bengaluru)
 ((joeljose@thomsonreuters.com))