Check out today’s top analyst calls from around Wall Street, compiled by The Fly.
GROWTH MOMENTUM: Vertical Group analyst Phil Leggiere upgraded Twitter (TWTR) to Very Positive from Mixed/Positive, stating that the flow of new brand campaign promotions and product releases “accelerated further” in April and May. The analyst sees this trend boosting Twitter’s year-over-year growth momentum.
SPORTS BETTING OPPORTUNITY: Wells Fargo analyst Steven Cahall upgraded Fox Corp. (FOXA) to Overweight from Equal Weight with a price target of $47, up from $42. Investments in Credible Labs, Fox Bet and Flutter Entertainment (PDYPY) are evidence that Fox may be focused on a pivot toward sports betting, Cahall told investors in a research note. This indicates potential share price accretion of 17%-34% over the next couple of years, the analyst added. Cahall believes value realization from Fox Bet and a FanDuel option arbitration win could bring 17% accretion, while the “real opportunity” would be Fox and Flutter building a new company longer term by combining FanDuel U.S. and Fox’s non-news network assets.
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