Coming back together as one publicly traded company would solve few issues but likely lead to a discount.
Fox 's potential reunification with News Corporation could actually be a set back from the stock's value, Credit Suisse warned. Analyst Douglas Mitchelson downgraded the stock to neutral from outperform and cut his price target by 12% to $36, which implies an upside of 14%. He said the potential combination of Fox and News Corp. would be a bad investment — and even just the idea could hurt the stock.
He said a stock merger could take place, or one could rein if there's a perceived discount involved. But he said a merger, or even talk of one, shows Fox is struggling to use its $5 billion in cash to acquire and expand its $17 billion market cap. While he said patient investors might see some long-term value, he said News Corp. doesn't solve Fox's need for more video in streaming while pushing the stock's value into discount territory.
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