How The Story Is Shifting For News Corp (NWSA) As Analysts Recalibrate Valuation

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The latest update keeps model fair value for News at $34.05 per share, with recent price targets being trimmed around the edges rather than reset. Analysts link these small target moves to tweaks in inputs, suggesting they are fine tuning assumptions instead of changing their core view of the business. As you read on, you will see how to interpret these shifts and keep track of how the narrative around News evolves over time.

Analyst Price Targets don’t always capture the full story. Head over to our Company Report to find new ways to value News.

• Citi’s decision to trim its price target by $1 suggests it is adjusting inputs rather than revisiting its entire view of News. This can signal that its broader investment thesis remains intact.

• Both Citi and Morgan Stanley are still publishing formal targets on the stock. This tells you News remains on the radar of large research desks and continues to draw analytical attention.

• Morgan Stanley reduced its price target by $5.60, pointing to specific concerns outlined in its research content, which may relate to how it views execution risks or the company’s ability to meet its own objectives.

• The fact that both Citi and Morgan Stanley are lowering targets, even if by different amounts, indicates a more cautious stance around what they expect News shares to justify in terms of valuation.

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See how News’ fair value stacks up across multiple valuation models — not just analyst targets.

• Meta and News Corp entered a multiyear AI content licensing agreement, with Meta set to pay up to US$50m a year for at least three years to use News Corp content for AI training and outputs.

• From September 29, 2025 to December 28, 2025, News reported no share repurchases under the buyback program announced on July 15, 2025, with cumulative repurchases under that authorization at 0 shares for US$0m.

• Over the same period, News repurchased 6,300,000 shares for US$172.87m under the buyback announced on September 22, 2021, bringing total repurchases under that program to 42,500,000 shares, or 7.37% of shares, for US$954.77m.

• Fair value in the model remains at $34.05 per share, with no change to the central valuation output.

• Revenue growth assumption is effectively unchanged at 3.90%, with only a minimal numerical adjustment.

• Net profit margin assumption stays at about 7.55%, with only a very small rounding difference.

• Future P/E multiple is now 29.99x, slightly higher than the previous 29.96x used in the model.

• The discount rate applied in the model is now 7.09%, compared with 7.06% previously.