NewsCorp $$ Target

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    NCP up 4.5% in the US overnight. Usually our market over shoots the US rise / fall. SO based on an approximate 5% rise in NCP today on the ASX we are looking at NCP have an intraday target range of $9.40-$9.50.

    Of course, Murdoch will be talking it up at the AGM today. Rumours in the press suggest that Echostar is about to fall into his lap. US investors are obviously counting on it as well.

    All things being equal, Brambles should have a poor day after droping 4% in the UK overnight. But throw in a mix of investor enthusiasm and suddenly all reality goes out the window.

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