Wells Fargo's Steven Cahall cut his Fox Corp. price target by $4 to $31, arguing that after the Tucker Carlson exit, 'while the new primetime lineup could drive a rebound, we think Fox News is a show me viewership story.'
shares from “equal weight” to “underweight,” citing Fox “News risks, cord-cutting risks, earnings risks.”earnings, and Fox News is facing viewership and share pressures. With ecosystem risks also elevated, we find our estimate outlook more negative and below the Street.”
Digging deeper into the news unit, the Wells Fargo expert highlighted: “Fox News is the Fox cash cow at about 80 percent of our fiscal-year 2024 estimated earnings before interest, taxes, depreciation and amortization . Viewership is down 19 percent January-June ’23 versus January-June ’21 due to cord-cutting and/or programming.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Secretary Yellen Concludes Beijing Trip, Calls US-China Talks ‘Productive’Secretary of the Treasury Janet Yellen concluded a four-day trip to China on Sunday, in which she said dialogue between the nations was “productive.” See potential bias and similarities in coverage from FoxBusiness, BBC, and CNN:
Read more »
Tucker Carlson doesn't know why he was fired by Fox NewsFormer Fox News host Tucker Carlson says he doesn't know why he was ousted from the network, but isn't 'angry' about the termination: 'This is not the first time I've been fired'
Read more »