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UPDATE: Credit Suisse Initiates Coverage on Nexstar Broadcasting Group with Outperform Rating, $17 PT

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In a report published Monday, Credit Suisse Group initiated coverage on Nexstar Broadcasting Group (NASDAQ: NXST) with an Outperform rating and $17.00 price target.

Credit Suisse noted, “We initiate coverage of NXST with an Outperform rating and a $17 target price. We believe NXST is positioned for solid FCF growth that should lead to increasing capital returns as the company benefits from growth in retrans revenue and increased scale through accretive acquisitions. Growth in retrans continues to diversify NXST's revenue mix. After increasing ~65% in 2012, we est. ~10% organic growth in 2013, then ~30% in 2014 driven by 3 key renewals. We expect retrans to increase from 16% of net revenue to over 25% by 2015.”

Nexstar Broadcasting Group closed on Friday at $12.16.

Latest Ratings for NXST

DateFirmActionFromTo
Dec 2014JefferiesMaintainsHold
Sep 2014Noble FinancialUpgradesHoldBuy
Jul 2014Noble FinancialInitiates Coverage onHold

View More Analyst Ratings for NXST
View the Latest Analyst Ratings

Posted-In: Credit Suisse GroupAnalyst Color Initiation Analyst Ratings

 

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