In a report released today, Daniel Kurnos from Benchmark Co. maintained a Buy rating on Nexstar (NASDAQ: NXST), with a price target of $94. The company’s shares closed yesterday at $63.90.
Kurnos said:
“We continue to view VMVPD deals as a potential source of upside for unit economics, and see NXST as a leader in that category, auguring well for future cash flow. Political came in slightly below expectations, but seems to have simply been pulled into 2Q, with our $213 million forecast for the year remaining unchanged despite what looks to be a very promising geographic setup for Nexstar in terms of contested elections.”
According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 10.2% and a 52.3% success rate. Kurnos covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment Inc, Sinclair Broadcast, and 1-800 Flowers.com.
Currently, the analyst consensus on Nexstar is Strong Buy and the average price target is $94.20, representing a 47.4% upside.
In a report released yesterday, Barrington also maintained a Buy rating on the stock with a $105 price target.
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The company has a one-year high of $82.95 and a one-year low of $55.95. Currently, Nexstar has an average volume of 594.3K.
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Nexstar Media Group, Inc. is a television broadcasting and digital media company, which focuses on the acquisition, development and operation of television stations and interactive community websites & digital media services in the United States.
