Fox Corporation Class B (FOX) stock is soaring 5.03% in intraday trading on Tuesday, buoyed by positive analyst sentiment and raised price targets. The media company's shares are gaining momentum as several financial institutions reaffirm their confidence in the stock.
Deutsche Bank has maintained its "Buy" rating on Fox and raised its price target from $60 to $61, signaling strong optimism about the company's future performance. Similarly, JPMorgan has adjusted its price target upwards from $54 to $56, while maintaining a "Neutral" rating. These upward revisions in price targets suggest that analysts see potential for further growth in Fox's stock value.
The positive sentiment is further reinforced by other major financial institutions. Loop Capital and UBS have both reaffirmed their "Buy" ratings for Fox, indicating their continued confidence in the company's prospects. Meanwhile, Barclays and Morgan Stanley have maintained their "Equal-Weight" ratings, suggesting a balanced outlook. The overall consensus among analysts, according to FactSet, is a "Hold" rating with a mean price target of $56.87, highlighting the stock's potential upside from current levels.
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