Investing.com — Bank of America upgraded Fox Corp Class A (NASDAQ:FOXA) to “Overweight” from “Market weight” and raised its FY25 and FY26 EBITDA estimates by 8% and 5% given the company’s strong execution and momentum following an earnings beat in fiscal Q1 2025.
The brokerage highlighted tailwinds from political ad spending in Q2 and the Super Bowl in Q3, despite ongoing concerns about long-term sports rights renewal risks in the media sector.
BofA noted Fox’s strong credit profile, with its bonds trading at a wider spread than higher-rated peers like Disney (NYSE:DIS) and Netflix (NASDAQ:NFLX).
Fox has a $600 million bond maturity in April, which is expected to be refinanced.
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