..

Fox Given a "Buy" Rating Thanks to Sports Betting Boost

Written by:
Aaron Goldstein
Published on:
Oct/09/2020

Fox Corp is an under-the-radar play on US sports betting, the headline reads for Wayne Duggan's report at Yahoo Finance!


*6 weeks free trial - test drive - best in the biz
*Deposit with Bitcoin - They'll double it!
*Get your own domain, customized website, logo
*Switch in under an hour, earn mrore $$ for doing so
*Odds featured on DonBest.com
*Thousands of betting options daily + live in-play
*Easy and discreet payment options include gift cards
*Walmart gift cards also accepted
Start Earning Money From Your Sheet Here

Bank of America analyst Jessica Reif Ehrlich reiterated her Buy rating for Fox and raised her price target from $33 to $39.

Her expectations, courtesy of Yahoo Finance:

First, she is expecting advertising trends to rebound in coming quarters. Second, Fox has a healthy balance sheet with opportunities for share repurchases. And finally, she said Fox has exposure to “high-growth hidden assets.”

Sports gambling, she notes, simply enhances what is already a solid brand with a healthy balance sheet.  It is but a small, albeit powerful, part of Fox Corp's overall portfolio.

The sector is nearly failproof in the US as more states look to legalize the activity.  The likes of Draftkings and FanDuel continue to enjoy a banner year despite a pandemic that shut down sports over a prolonged period of time.

The focal point of Fox Corp's sports betting efforts in the States will be its Fox Bet brand.  We will see its signage plastered across stadiums and arenas (more so once college basketball gets underway) during F1 Sports broadcasts. 

Fox Bet evolved from a partnership with the Stars Group, owner of PokerStars.  In May 2019, Fox took a 4.99% stake in The Stars Group. Fox also has the option to acquire 50% of Stars' U.S. business within the next 10 years and the right to acquire an 18.5% stake in FanDuel Group in 2021.  It owns a 2.6% stake in Flutter Entertainment, the parent company of FanDuel and Paddy Power.

"Fox's hidden assets collectively represent $13/s in our analysis (vs. $7/s prev.)—reflecting an accelerated consumer shift to digital (e.g. streaming and real estate) and robust consumer appetite for online gambling," Ehrlich wrote in a note.

- Aaron Goldstein, Gambling911.com

Business/Financial News

Blockchain and Metaverse Expert Agency CoinPoint Sign a Strategic Partnership

Blockchain and Metaverse Expert Agency CoinPoint Sign a Strategic Partnership

Plus EU’s new AML watchdog spells trouble for ‘crypto’ crooks

The Ethereum Merge is Coming: CoinBase to Pause Transactions

Ethereum is anticipated to move to Proof-of-Stake (PoS) on or around September 15, 2022 making it more secure, less energy-intensive, and better for implementing new scaling solutions.  Coinbase and other crypto exchanges are pausing Ethereum and ERC-20 withdrawals and deposits during the merge

Dow Jumps 400 Points, Nasdaq Surges 2% Following Inflation Report: Latest BetOnline Financial Odds

Dow Jumps 400 Points, Nasdaq Surges 2% Following Inflation Report: Latest BetOnline Financial Odds

Consumer prices rose 8.5% in July, and while that may seem like a lot, it was less than expected as the pace of the rise had slowed.

£9.9 Billion Class Action Lawsuit Filed Against Binance, Kraken, Others

£9.9 Billion Class Action Lawsuit Filed Against Binance, Kraken, Others

A £9.9 billion class action lawsuit has been filed against Binance, Bittylicious, Kraken and Shapeshift.  The plaintiffs are mostly BSV Blockchain investors.

VERDICT: Peter McCormack Liable for Defamation on All Counts

VERDICT: Peter McCormack Liable for Defamation on All Counts

The judge also found that McCormack’s defamatory tweets had caused serious harm to Wright's reputation in the United Kingdom.

Syndicate