..

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

Elon Musk Dubs Himself the "Dogefather" for SNL Promo Tweet

Elon Musk Dubs Himself the "Dogefather" for SNL Promo Tweet

Oddsmakers doubt an SEC investigaton will be launched following Elon Musk's SNL appearance this coming Saturday night, but you can still bet on it.

Hillarious Elon Musk SNL Host Betting Odds

Hillarious Elon Musk SNL Host Betting Odds

Bet on Elon Musk as SNL host.  Everything from what he mentions first, Dogecoin, Tesla, SpaceX and even whether he lands in trouble with the SEC.   Should be a great show.

Gemini Acceptance of Dogecoin Suggests Cryptocurrency Here to Stay

Gemini Acceptance of Dogecoin Suggests Cryptocurrency Here to Stay

Plus Dr. Craig Wright's master class on the variety of ways to extend Bitcoin addresses.

Cryptocurrency ether rose to a fresh record peak on Tuesday before dropping sharply as some investors pulled profits from a white-hot market bulging with questionable new entrants.

'Speculative Excess': Ethereum Finds New Peak in Sizzling Crypto Market

Cryptocurrency ether rose to a fresh record peak on Tuesday before dropping sharply as some investors pulled profits from a white-hot market bulging with questionable new entrants.

Bitcoin Jumps 8%, on Course to Snap Five Days of Losses

Bitcoin Jumps 8%, on Course to Snap Five Days of Losses

Bitcoin jumped as much as 8% on Monday and was on course to snap five straight days of losses, though the cryptocurrency has slumped almost a fifth from its all-time high hit earlier this month.

Syndicate