MoffettNathanson Downgrades 21st Century Fox (FOXA) to Neutral

MoffettNathanson downgraded 21st Century Fox (NASDAQ: FOXA) from Buy to Neutral with a price target of $32.00.

Analyst Michael Nathanson commented, "Friday’s announcement of a possible FOXA/SKY deal, while accretive and not utterly shocking, is underwhelming from a strategic and timing perspective. Due to this deal, we believe that U.S. investors will reduce FOXA’s forward multiple as they see satellite as a less valuable asset."

For an analyst ratings summary and ratings history on 21st Century Fox click here. For more ratings news on 21st Century Fox click here.

Shares of 21st Century Fox closed at $28.21 yesterday.

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