Credit Suisse observes trends have been improving over the fourth quarter, with better listings at REA Group ((REA)) and data on the US advertising market.
The broker upgrades estimates for FY20 to reflect this and will be looking for any improvement in digital subscriptions in the results on August 7.
Outperform rating maintained. Target raised to $22.85 from $22.60.
Target price is $22.85.Current Price is $18.49. Difference: $4.36 – (brackets indicate current price is over target). If NWS meets the Credit Suisse target it will return approximately 19% (excluding dividends, fees and charges – negative figures indicate an expected loss).