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Wall Street Analyst Boosts Fox To “Buy” In Rare Media Upgrade

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deadline.com
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By Jill Goldsmith Guggenheim analyst Michael Morris on Thursday slapped a buy rating on shares of Fox Corp. — a rare upgrade in a period of dislocation and dire predictions by Wall Street across media and entertainment.

Morris upped his recommendation from “neutral” – basically a hold – calling Fox the best positioned among its broadcast peers to weather the ongoing coronavirus-induced downturn.

While weaker ad spend, particularly in local markets, will continue to be an issue, Morris said, he noted – as did Deadline in a story yesterday – that exposure to live news, where ratings are soaring, and late-season sports “are relatively attractive compared with media peers.” While CBS, ABC and NBC are taking major hits from the cancellation of

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