Fox Gears For a Run - Multichannel

Fox Gears For a Run

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Merrill Lynch & Co. Inc. analyst Jessica Reif Cohen raised her rating on Fox Entertainment Group Inc. last week to "buy" from "accumulate," citing the company's valuation and strong fundamentals. Cohen wrote that Fox Entertainment still has considerable upside because its current share price does not reflect earnings drivers that should fuel stronger growth in the second half of the year. They include a $2.5-billion television syndication backlog, cable-network growth, improved network ratings and the acquisition of Chris-Craft Industries Inc.

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