In a preview of the Sepember 30 Foxtel strategy day, Credit Suisse feels any positive news will likely lift market estimates. It’s suspected the market is ascribing no, or even negative value at present, given the over 900m of debt at Foxtel.
Any indication that the business can stabilise (or grow) presents upside to both the broker’s and market estimates. The Outperform rating and $40 price target are unchanged.
Sector: Media.
Target price is $40.00.Current Price is $33.14. Difference: $6.86 – (brackets indicate current price is over target). If NWS meets the Credit Suisse target it will return approximately 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).
