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Investing.com - CFRA raised its price target on FOX Corp. (NASDAQ:FOXA) to $73.00 from $65.00 while maintaining a Buy rating following the company’s strong fiscal first quarter performance. FOX shares are currently trading at $64.65, near their 52-week high of $66.56, after delivering an impressive 55.83% return over the past year.
FOX delivered solid results in Q1 FY26, reporting adjusted EPS of $1.51, which exceeded consensus estimates by $0.41, and revenue of $3.74 billion, representing 5% year-over-year growth. InvestingPro data shows FOX has achieved a perfect Piotroski Score of 9, indicating exceptional financial strength, with annual revenue reaching $16.47 billion in the last twelve months.
On October 30, FOX’s Board of Directors authorized a $1.5 billion accelerated share repurchase program expected to be completed by the second half of fiscal year 2026.
CFRA’s revised price target is based on a forward P/E of 14.3x their FY27 earnings estimate, in line with the five-year historical average, and a TEV/EBITDA of 9.6x compared to the 10.2x average for direct peers.
The research firm maintains its earnings estimates of $4.60 per share for FY26 and $5.10 for FY27, citing FOX’s strong sports and news franchises that provide pricing power and audience engagement, with NFL content delivering higher ratings and advertising demand.
In other recent news, Fox Corporation reported a robust fiscal first quarter of 2026, surpassing Wall Street’s expectations with an adjusted earnings per share (EPS) of $1.51, compared to the forecasted $1.11. Revenues also exceeded projections, reaching $3.74 billion against the anticipated $3.57 billion. This performance highlights a 36.04% earnings surprise and a 4.76% revenue surprise. Additionally, Fox reported stronger-than-anticipated advertising revenue, with management noting the advertising market as particularly robust. Total distribution grew by 3% year-over-year, while total advertising increased by 6%, despite challenges in political advertising and cable news ratings comparisons. UBS responded to these results by raising its price target for Fox Corp . to $76 from $65, maintaining a Buy rating. These developments underscore the company’s strong market position and financial performance in the recent quarter.
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