NASDAQ:FOXA

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Fox Stock Jumps 5% as JPMorgan and Wells Fargo Upgrade Ratings

Fox Corporation shares rose more than 5% after two major Wall Street firms upgraded the media company, providing a strong catalyst for both classes of Fox stock.

JPMorgan upgraded Fox (NASDAQ: FOX) from Neutral to Overweight and raised its price target from $70 to $82. Analyst David Karnovsky issued the same upgrade for Fox’s Class A shares (NASDAQ: FOXA), also lifting the target from $70 to $82.

Wells Fargo was similarly bullish. The firm upgraded FOX from Underweight to Overweight with an $80 price target. Wells Fargo analyst Steven Cahall also upgraded FOXA from Equal Weight to Overweight and raised the price target from $65 to $80.

The coordinated upgrades represent a significant improvement in Wall Street sentiment toward Fox. In particular, Wells Fargo’s move on FOX from Underweight directly to Overweight signals a substantial reassessment of the stock’s risk-reward profile.

FOX shares were up about 5.2% at $61.14, while FOXA gained roughly 5.3% to $68.89. The new targets imply further upside from those levels, with JPMorgan’s $82 target among the most bullish of the ratings shown.

The rally suggests investors are responding positively to the improved analyst outlook, with two major banks simultaneously moving to bullish ratings and substantially higher valuation targets.
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Global Finance News 08-14-26
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08-14-26Global Finance News