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DJ News Corp's 2Q Could Prompt Upside Earnings Revisions -- Market Talk

· 02/07/2021 18:46

2346 GMT - News Corp's 2Q performance could prompt analysts to raise FY earnings forecasts, Morgan Stanley says. The investment bank says a stand-out 2Q helped 1H Ebitda of US$747M easily top the average forecast of US$530M. The average FY 2021 Ebitda forecast of US$1.045B now implies a 32% on-year decline in 2H, it adds. The key debate for Morgan Stanley is whether the 2Q result was one-off or an inflection point for a remodeled asset portfolio. Morgan Stanley has an underweight rating and US$15.00 target price on the company's U.S.-listed stock, which last traded at US$21.22. News Corp owns and publishes The Wall Street Journal and Dow Jones Newswires. (stuart.condie@wsj.com; @StuartLCondie)

(END) Dow Jones Newswires

February 07, 2021 18:46 ET (23:46 GMT)

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