** J.P. Morgan raises PT on broadcaster Fox Corp to $41 from $38
** Brokerage lifts FY profit forecast citing a pick-up in political advertising at Television in Q2, following similar fundraising and guidance raises from broadcast groups such as Sinclair
** Says Q1 will also benefit from strong advertising and viewership trends at news and sports, along with strength at Tubi streaming service
** BofA hikes PT to $50 from $45, signals October as the strongest month for political advertising; says FOXA is on track this year to exceed the $230 mln its local TV stations made in last presidential election cycle
** Notes that Fox has the least exposure to entertainment advertising given their asset mix, which is biased towards sports and news
** "We expect Fox is targeting adjacencies to sports/news and would not rule out cross-border M&A given their history in international markets," says BofA analyst Jessica Ehrlich
** Stock is up 41% YTD, including session's moves
(Reporting by Savyata Mishra in Bengaluru)
((Savyata.Mishra@thomsonreuters.com))
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