7/104 sources · 3 publishersUpdated Oct 16, 16:55 UTC
Bank of America upgrades Fox to Buy, citing pending Roku acquisition
Bank of America raised its rating on Fox Corporation to Buy from Underperform and lifted the price target to $85, up from $54. The upgrade reflects expected synergies from Fox’s pending acquisition of Roku, which is slated to close in early 2027. BofA projects $400 million of cost savings and $530 million of revenue synergies, together delivering about $700 million of additional EBITDA by 2028.
Why it matters
The higher rating and price target suggest a more favorable valuation for Fox, potentially attracting new buying interest. The projected EBITDA uplift could improve Fox’s earnings profile and support higher future cash flows.
Key facts
- 1BofA upgraded Fox to Buy from Underperform and raised the price target to $85, up from $54. investing.com
- 2The pending Roku acquisition is expected to close in early 2027. investing.com
- 3BofA expects $400 million of cost synergies from the combined SG&A and corporate cost base. investing.com
- 4Base‑case revenue synergies are projected at $530 million, with a bull case of $1.07 billion. investing.com
- 5Total EBITDA uplift of roughly $700 million is anticipated for 2028. investing.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.