News To Join Recommended List At Macquarie

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By Rudi Filapek-Vandyck

One of our very well-connected sources in the market has informed us that Macquarie has indicated it will add News Corp (NWS) to its list of recommended stocks.

Macquarie’s decision is based upon the perception that management’s increased focus on financial and shareholder returns is starting to pay off with the broker flagging News Corp should now be considered one of the growth stocks in the market that will consistently perform well.

In addition, the broker believes the pending re-inclusion in the S&P/ASX200 index should provide the shares with a boost as well (under whatever shape this process will be conducted).

Macquarie currently rates the stock Outperform with a price target of $36.42. The FNArena database shows the broker is not alone in its positive stance with the shares currently enjoying a 7/1/0 B/H/S ratio which makes the stock one of the highest recommended in the local market. JP Morgan and ABN Amro currently don’t cover the stock in Australia.

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