Fox Corp Stock All Tuckered Out, Wells Fargo Issues Downgrade After Tumultuous Season

Wells Fargo & Co earlier this week downgraded shares of Fox Corp (NASDAQ:FOX) (NASDAQ:FOXA). This came after the turbulent spring and summer that included Fox settling the Dominion Voting Systems and the gender discrimination suits, as well as the exit of prime time anchor Tucker Carlson, further fueling concerns about viewership pressures.

The FOX/FOXA Analyst: Steve Cahall downgraded Fox Corp from Equal Weight to an Underweight rating, and lowered the price target from $35 to $31, citing an increasingly negative earnings outlook and “ecosystem risks” associated with Fox News.