Fox Sees Political Ad Surge, But Growth Concerns Prompt Analyst Downgrade
Portfolio Pulse from Anusuya Lahiri
Seaport Research analyst David Joyce downgraded Fox Corp (NASDAQ:FOX) (NASDAQ:FOXA) from Buy to Neutral due to growth concerns despite a surge in political ad spending. The stock has exceeded the analyst's price target, reflecting political ad enthusiasm, but faces growth challenges.
September 09, 2024 | 5:54 pm
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NEUTRAL IMPACT
Fox Corp (NASDAQ:FOX) was downgraded from Buy to Neutral by Seaport Research due to growth concerns, despite a surge in political ad spending. The stock has exceeded the analyst's price target, reflecting political ad enthusiasm, but faces growth challenges.
The downgrade from Buy to Neutral by Seaport Research reflects concerns over Fox Corp's growth prospects despite a surge in political ad spending. The stock has already exceeded the analyst's price target, indicating that the market may have already priced in the political ad spending enthusiasm. The analyst's concerns about growth challenges due to the cyclical nature of political and SuperBowl advertising suggest a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Fox Corp (NASDAQ:FOXA) was downgraded from Buy to Neutral by Seaport Research due to growth concerns, despite a surge in political ad spending. The stock has exceeded the analyst's price target, reflecting political ad enthusiasm, but faces growth challenges.
The downgrade from Buy to Neutral by Seaport Research reflects concerns over Fox Corp's growth prospects despite a surge in political ad spending. The stock has already exceeded the analyst's price target, indicating that the market may have already priced in the political ad spending enthusiasm. The analyst's concerns about growth challenges due to the cyclical nature of political and SuperBowl advertising suggest a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100