Surprise Upgrade: News Corp from Hold to Buy (NWS)

Yesterday Soleil's upgrade of News Corp. (NASDAQ:NWS) to "Buy" and price target increase to $11, the market took the wind out of News Corp and dropped shares 6% to finish the day at $7 and change.  Today NWS is back up 2%, is this a stock to watch?

Via theStockMasters.com -- Soleil Securities said that: "We believe that F09 earnings estimates are finally low enough, as NWS has been the most candidly aggressive about lowering estimates repeatedly for the current fiscal year. Share prices lead fundamentals by 1-2 quarters in the media space. In every recession since 1990, NWS has reported the highest volatility of any media stock to the downside and to the upside off the bottom."

Today everything got shot down, but with this analyst call's one year price target at almost a 100% gain from today's closing price, its worth a look. Keep in mind News Corp. is a monster corporation with some big assets including The Wall Street Journal, NY Post, The Sun, Hulu.com, MySpace.com, HarperCollins Publishers, and everything Fox (20th Century Fox and their lineup including American Idol, House, 24, Family Guy, the Simpsons, etc..).

News Corporation had total assets as of December 31, 2008 of approximately US$50 billion and total annual revenues of approximately US$33 billion.

SOURCE: http://thestockmasters.com/node/1261