Fox Corp Stock Jumps 4% on Dual Upgrades and Roku Deal Boost
TLDR
- J.P. Morgan and Wells Fargo both upgraded Fox Corp to Overweight, raising price targets to $82 and $80 respectively
- Fox Q4 television revenue rose 45% year over year to $2.48 billion, with EBITDA jumping 129% to $705 million
- Tubi hit 110 million monthly active users, with revenue up 35% and viewing time up 17%
- The pending Roku acquisition would create the largest free ad-supported streaming TV operator
- Wells Fargo estimates the Roku deal could generate $300 million in advertising revenue synergies within two years
Fox Corp received back-to-back upgrades from two major Wall Street banks on Friday, sending the stock up roughly 4% to around $65.45.
J.P. Morgan lifted its price target to $82 from $70, while Wells Fargo raised its target to $80 from $65. Both firms moved Fox to Overweight from Neutral.
J.P. Morgan boosted its fiscal 2027 and 2028 adjusted EBITDA estimates by 7% and 9% following Foxโs fourth-quarter results. The bank pointed to strong FIFA World Cup economics, a solid political advertising outlook, and continued advertising momentum as key drivers.
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