Nexstar Media Group (NXST – Research Report), the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst James Goss from Barrington reiterated a Buy rating on the stock and has a $200.00 price target.
James Goss has given his Buy rating due to a combination of factors surrounding Nexstar Media Group’s operations and financial performance. As the largest local broadcaster in the nation, Nexstar’s scale is a significant asset, particularly with its control of the CW Broadcast Network, which safeguards its extensive reach. Additionally, its NewsNation cable network has seen growth in distribution, now second only to Fox News in terms of household reach. The ability of Nexstar to leverage its scale for beneficial retransmission negotiations and the synergies between its various assets further justify the optimistic outlook.
Financially, Nexstar exhibited stable first-quarter revenues and an uptick in EBITDA, partly due to reduced losses from the CW network. The company also maintains a healthy balance sheet with manageable net leverage and continues to deliver shareholder value through capital returns. The introduction of Next Gen TV (ATSC 3.0) offers additional long-term opportunities, including targeted advertising and datacasting. Goss’s reaffirmation of the Outperform rating, along with a robust $200 price target and a solid dividend yield, reflects confidence in Nexstar’s strategic cash allocation and its growth trajectory.
According to TipRanks, Goss is an analyst with an average return of -7.3% and a 36.36% success rate. Goss covers the Communication Services sector, focusing on stocks such as Clear Channel Outdoor, Townsquare Media, and CuriosityStream.
In another report released today, Wells Fargo also upgraded the stock to a Buy with a $221.00 price target.
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Nexstar Media Group (NXST) Company Description:
Nexstar Media Group, Inc. operates as a television broadcasting and digital media company. It focuses on the acquisition, development and operation of television stations and interactive community websites and digital media services in the U.S. The company provides services free over-the-air programming which includes programs produced by networks with which the stations are affiliated; programs that the stations produce; and first-run and rerun syndicated programs that the stations acquire. It also provides digital publishing and content management platforms to media publishers and advertisers. Nexstar Media Group was founded by Perry A. Sook in 1996 and is headquartered in Irving, TX.
