Investing.com -- Wolfe Research has upgraded Fox Corp. to Outperform from Peer Perform in a note on Wednesday, setting a $71 price target and arguing that the company's planned merger with Roku creates a more dynamic growth story than the market is currently pricing in.
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Comcast's spinning off NBCUniversal could set them up to pursue future deals even if there aren't any deals on the table yet.
NBCU has shown interest in companies like Electronic Arts in the past and currently has a deal with Nintendo around the Super Mario Bros. franchise.
Comcast (CMCSA) said Monday it plans to split into two publicly traded companies, separating its NBC
The stock is down 10.5% this month, after closing May 8% lower.
Lachlan Murdoch calls the $22 billion Roku acquisition a defining moment for FOX, pairing live sports and news with America's top streaming platform.