The 2021-22 Federal Budget features $1.2 billion in government spending over six years to drive Australia’s digital economy. Morgan Stanley believes these initiatives support its bullish view of the media sector. Here are some ASX 200 media shares the broker thinks could see upside.
ASX 200 media shares on broker’s radar
Nine Entertainment Co Holdings Ltd (ASX: NEC)
Morgan Stanley observes a relatively small benefit to commercial free-to-air broadcasters from reduced funding for public broadcasters ABC and SBS. The broker reiterated its overweight rating for Nine shares with a target price of $3.50.
The Nine share price has been surging into record territory in 2021 following bullish earnings and a greater commitment to its…