Fox Corp. (NASDAQ: FOXA) Stock Gains Momentum with Upgrade and Strong Financial Projections

• Investment firm Wolfe Research upgraded Fox Corp. (NASDAQ: FOXA) to Outperform, signaling a positive future outlook for the media giant.
• Despite past investor concerns over the Roku (NASDAQ: ROKU) acquisition, analysts like UBS project strong fiscal performance for Fox Corp.
• Robust World Cup viewership and growth in its Tubi streaming service are expected to drive significant advertising revenue increases for Fox Corp.

Fox Corp. is a major media company involved in news, sports, and entertainment broadcasting. The company operates well-known assets like Fox News and Fox Sports. It also competes in the streaming market with its platform, Tubi, facing rivals such as Netflix (NASDAQ: NFLX).

On June 30, 2026, investment firm Wolfe Research upgraded its rating on Fox Corp. to Outperform from a previous rating of Underperform. At the time of the announcement, the stock's price was $52.16. This upgrade suggests a more positive future outlook for the company's stock performance.

This new rating comes after a period of investor concern. As highlighted by S&P Global Market Intelligence, shares of Fox Corp. sank 24.9% following the announcement of its $22 billion acquisition of Roku. The deal, funded partly by $12 billion in new debt, was met with disapproval due to its high cost.

Despite the negative market reaction, some analysts see underlying strength. UBS projects a strong fiscal fourth quarter, forecasting an EBITDA of approximately $1.02 billion, a 9% increase from the prior year. EBITDA, or Earnings Before Interest, Taxes, Depreciation, and Amortization, is a key indicator of a company's profitability.

This positive forecast is driven by robust World Cup viewership and growth at its streaming service, Tubi. As highlighted by Proactive Investors, UBS expects total company advertising revenue to increase by 31%. The World Cup alone is estimated to generate roughly $500 million in advertising revenue for Fox Corp.