ASX shares of News Corp at record high; UBS upgrades to 'buy'

News

04/02/2025 04:11

** ASX-listed shares of media giant News Corp  NWS.AX 
 NWSA.O  rise 1.8% to a record high of A$51.72
    ** Analysts at UBS raise PT on NWS to A$64.5 from A$51 and
upgrade stock rating to "buy" from "neutral"
    ** Lifts earnings estimates for FY25 and FY26 on co, largely
reflecting reduced net interest expense post sale of its
Australian pay TV business Foxtel
    ** Says market will be keenly looking for an update on the
strategic review post the ale of Foxtel and management
expectations for interest expense line post Foxtel debt removal
    

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))