Bank of America upgrades Fox to Buy after Roku deal boosts growth and earnings outlook.

Bank of America upgraded Fox Corp to a Buy rating from Underperform and raised its price target to $85, citing the pending acquisition of Roku as a key growth driver. The deal is expected to close in early 2027 and could add about $700 million in annual earnings by 2028 through revenue synergies and cost savings. The combined company aims to leverage Roku's streaming platform and advertising technology to expand Fox's reach and transition from traditional TV to direct-to-consumer services. This upgrade reflects improved growth prospects, margin expansion, and strong free cash flow potential for the merged entity.

Roku shares are trading at USD 155.14 on Pluang, showing a modest 0.30% increase in the last day. As of Oct 16, 2026 23:41 WIB, Roku's market cap stands at $22.97 billion, reflecting steady investor interest ahead of the anticipated Fox acquisition.