Wedbush Raises Price Target on Nexstar Broadcasting (NXST) to $66
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Wedbush reiterated an Outperform rating on Nexstar Broadcasting Group (NASDAQ: NXST), and raised the price target to $66.00 (from $65.00), following the company's 3Q earnings report. NXST reaffirmed guidance for stand-alone avgerage FCF/share of $8.15 and for post-merger entity avgerage FCF/share of ~$12.00.
Analyst James Dix commented, "As NXST bucks the downtrend in political advertising, with likely near-term merger catalysts, shares look more attractive. We remain positive on Nexstar’s strong and consistent free cash flow generation, and see near-term upside for shares from clearing any overhang from MEG results, updated guide on merger synergies, and closing in 4Q the long-pending merger."
Shares of Nexstar Broadcasting Group closed at $49.50 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Ciena (CIEN) to $30 Following 4Q
- Stifel Reiterates Buy on Casella Waste Systems (CWST) - PT to $16
- BMO Capital Cuts Price Target on Comtech Telecom (CMTL) to $16 Following 1Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!