Guggenheim Securities reiterated its buy recommendation and $85 price target for FOX Corp. (FOXA) shares, citing operational improvements and expected synergies from the pending Roku acquisition.
The firm’s outlook is supported by revised business models for both FOX and Roku following strong second-quarter results, as well as potential revenue and cost efficiencies from the deal. Guggenheim also anticipates a faster regulatory approval timeline than FOX Corp.’s current estimate for closing the transaction.
FOXA shares have gained 42% since June 23, outpacing the S&P 500’s 4% advance over the same period. The stock’s recovery follows a low set at that date, coinciding with the announcement of the Roku deal.
Morgan Stanley upgraded its outlook for FOX Corp. after the company reported strong fiscal fourth-quarter 2026 results, driven by advertising revenue from the FIFA World Cup and subscriber growth on platforms including Tubi and Fox One. JPMorgan raised its rating from neutral to above average, citing cost savings from the World Cup, increased political advertising spending, and upward revisions to EBITDA estimates for fiscal years 2027–2028 by 7% to 9%.
Wolfe Research raised its price target for FOXA to $93, highlighting projected sales synergies and merger-related cost reductions. Seaport Global Securities, however, downgraded the stock to neutral, forecasting modest revenue and free cash flow growth for fiscal 2027.
Guggenheim’s $85 target implies roughly 18% upside from recent levels, while the stock is expected to benefit from continued operational momentum and strategic initiatives beyond the Roku transaction.
