We retain our Positive recommendation with significant share price upside to our valuation, potential upside to our valuation from Cable and strong ongoing earnings momentum in core businesses.
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News Corporation (NWS) - LOOKING PAST THE NASTIES
Despite these concerns we upgrade our recommendation to Positive following an 18% valuation lift.
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News Corporation (NWS) - Publishing A Problem
We have downgraded our recommendation from Positive to Neutral following a strong rally in the share price and a reduction in our spot valuation with the A$/US$ now at $1.
We propose maintaining a moderate overweight exposure to NWS given its cheap absolute value and our positive position on B Sky B.
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News Corporation (NWS) - Making headlines for the right reasons
The underlying quality and value of the businesses combined with the very strong balance sheet and cash flow generation are reasons to maintain our Positive recommendation.