07:15 AM EDT, 05/10/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target by $2 to $29, on FY 25 (Jun.) EV/EBITDA of 11.1x, above NWSA's 5-year average forward EV/EBITDA of 9.8x. We cut FY 24 EPS to $0.74 from $0.76 but raise FY 25 EPS to $0.99 from $0.95. NWSA posts Mar-Q adj-EPS of $0.11, $0.02 below consensus. Revenue of $2,423M (-1% Y/Y) was $25M above consensus. Adj-EBITDA rose 0.6% Y/Y to $322M, in line with consensus, with margin widening to 13.3%. Every NWSA segment, excluding Real Estate and Dow Jones, experienced revenue declines both Q/Q and Y/Y. Despite this, NWSA's cost management led to a rise in EBITDA growth across all segments, except for News Media (-26% Y/Y). However, NWSA plans to address this through further cost cuts at the Daily Mail Group, News UK, and TalkTV. We are also encouraged by management's commentary regarding the potential restructuring of NWSA, in order to reduce its conglomerate discount. This development, along with its recent rental agreement with Zillow and its partnership extension with Google reaffirm our Buy view.