Goldman Sachs keeps its in-line rating on News Corp. (NWS).
News Corp. will move its corporate headquarters to New York, from Australia, and list its primary shares on the New York Stock Exchange. Analyst Anthony Noto thinks this will be a positive catalyst for shares (which could also close News Corp.'s valuation gap), and he sees at least 15% share appreciation.
Noto says being domiciled in the U.S. will increase the breadth of investors that can buy the stock, and increase the possibility that News Corp. will be added to major U.S. indices, which could fuel index -fund buying. He thinks investor coverage and understanding should increase, while corporate transparency should improve with more stringent Securities and Exchange Commission filings.