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Update: Morgan Stanley Lifts Price Target on News Corp. to $34 From $32.40, Keeps Overweight Rating

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(Updated to include Morgan Stanley's commentary)

Morgan Stanley raised its price target on News (NWSA, NWS) to $34 from $32.40 following the company's reported fiscal Q3 earnings.

The brokerage mentioned that it is more bullish than consensus on REA/Move and Dow Jones, with the quarterly results supporting their thesis.

According to the brokerage, ongoing revenue growth, increasing subscription and digital revenues as a percent of group revenues, and balance sheet strength provides optionality.

News has an average rating of buy and mean price target of $35.20, according to analysts polled by FactSet.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Price: $26.59, Change: $-0.43, Percent Change: -1.59%

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