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TRADE ALERT- 21st Century Fox a Buy Says Wells Fargo (FOXA)

Wells Fargo (NYSE: WFC) released a research note saying that it attended the 21st Century Fox (NYSE: FOXA) investor day and based on that, believes the company has better fundamentals than it’s peers which puts it in a position to return cash to shareholders and engage in M&A activities.

Fox Sports, a division of 21st Century Fox announced on Wednesday that it would broadcast the United States Golf Association U.S. Open from 2015 to 2026. The company reportedly paid the USGA $100 million per year to carry this and other tournaments.

The stock is up more nearly 40 percent year to date and as an impressive chart that recently staged a huge bounce off of its 50 day moving average. It formed a weak reverse head and shoulders pattern that served to propel it to its 52 week high.

Company Overview:

Twenty-First Century Fox, Inc. operates as a diversified media company worldwide. It produces and licenses news, business news, sports, general entertainment, and movie programming for distribution through cable television systems and direct broadcast satellite platforms primarily in the United States and Asia.

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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