There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on Interpace Diagnostics Group Inc (IDXG) and Nexstar Media Group Inc (NXST) with bullish sentiments.
Interpace Diagnostics Group Inc (IDXG)
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Interpace Diagnostics Group Inc, with a price target of $3.50. The company’s shares closed yesterday at $0.72, close to its 52-week low of $0.67.
Selvaraju noted:
“Our 12-month price target is derived from an estimated market value of the firm at $130M. This includes a discounted cash flow analysis based asset value for the company’s three commercialized laboratory-developed tests (LDTs), with a 15% discount rate and a 2% terminal growth rate, and assuming 38.6M shares outstanding at the end of 1Q20.”
According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -2.1% and a 30.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Interpace Diagnostics Group Inc with a $3.75 average price target.
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Nexstar Media Group Inc (NXST)
B.Riley FBR analyst Zachary Silver reiterated a Buy rating on Nexstar Media Group Inc today and set a price target of $139. The company’s shares closed yesterday at $106.30.
Silver wrote:
“We update our Nexstar (NXST—Buy, $139 PT) estimates for last week’s earnings, as well as Tribune’s (TRCO) 1Q19 results. We continue to see 2019 standalone AEBITDA of $873M, although we now assume a larger 4Q19 contribution than we had in our previous outlook— offset by trims to our 2Q19 and 3Q19 estimates. We are lowering our 2019 FCF estimate by $4M on a bump to our outlook for full-year cash taxes, but still see Nexstar hitting its guide for $615M in standalone 2018/2019 average FCF. We now assume that Nexstar can generate $170M in annual TRCO merger synergies, factoring in call commentary that suggested, to us, that Nexstar will likely be hiking its previous synergy guidance of $160M upon merger consummation.”
According to TipRanks.com, Silver is a 3-star analyst with an average return of 6.5% and a 59.4% success rate. Silver covers the Services sector, focusing on stocks such as Entercom Communications, Sinclair Broadcast, and Cumulus Media Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nexstar Media Group Inc with a $137.20 average price target, a 29.1% upside from current levels. In a report issued on May 8, Barrington also maintained a Buy rating on the stock with a $135 price target.
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