Second quarter results were materially ahead of UBS estimates. No guidance was provided. Highlights include the performance of Move, helped by higher referral & traditional lead revenue.
High revenue also occurred with book publishing. News media continues to benefit from cost savings. UBS plans to review its forecasts and retains its Buy rating and $29 target.
Sector: Media.
Target price is $29.00.Current Price is $28.41. Difference: $0.59 – (brackets indicate current price is over target). If NWS meets the UBS target it will return approximately 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
