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FanDuel Sports Betting Partnership Gives Fox 34% Upside, Analyst Says

·2 min read
FanDuel Sports Betting Partnership Gives Fox 34% Upside, Analyst Says

Because of the potential for expanded cooperation between FanDuel parent Flutter Entertainment (OTC: PDYPF) and Fox (NASDAQ: FOX)(NASDAQ: FOXA), the news and sports broadcaster, one analyst believes the latter's stock possesses as much as 34% upside. Wells Fargo analyst Steven Cahall recently upgraded Fox from equal weight to overweight, which is the equivalent of a buy recommendation, and set a price target of $47 per share. In a research note to investors, Cahall said there are two catalysts to Fox's stock appreciating 34% over the next few years.