Morgan Stanley Lowers its Price Target on News Corporation (NWS) to $32.40 and Maintains an Overweight Rating

Group 1 - Morgan Stanley lowered its price target on News Corporation (NWS) to $32.40 from $38 while maintaining an Overweight rating, indicating no change to its fundamental positive thesis [1] - Citi also reduced its price target on News Corporation to $39 from $40, keeping a Buy rating on the shares [1] Group 2 - News Corporation reported second-quarter revenue of $2.36 billion, exceeding the $2.3 billion consensus estimate, with revenue up 6% and profitability rising 9% year over year [2] - CEO Robert Thomson highlighted sustained growth at Dow Jones and Digital Real Estate Services, both achieving double-digit profit growth, along with record digital advertising revenue and Segment EBITDA margins nearing 30% [2] - The company is executing its buyback program at a pace more than four times the prior rate [2]