| May 12th, 2023 9:25 AMFox Stock Facing Too Many Headwinds, Says Analyst
Wells Fargo downgraded the shares of Fox Corp (NASDAQ:FOXA) to "equal weight" from "overweight," and lowered the price target by $9 to $44. The firm said the media giant faces headwinds from its dispute with FanDuel.
The analyst noted that Fox likely has a streaming monetization upside, but demand for linear TV and cost for sports rights are dragging sentiment.