Market Overview

UPDATE: Credit Suisse Raises Nexstar Target from $30 to $42 Amid Expected Acceleration in Sector Consolidation

Share:
Related NXST
Nexstar Broadcasting Responds to Cox Communications' Action to Drop Network and Local Community Programming in Nine Markets
Benzinga's M&A Chatter for Wednesday January 27, 2015
Nexstar, Cox come to carriage deal to end station blackout (Seeking Alpha)

Michael Senno of Credit Suisse raised his price target on shares of Nexstar's (NASDAQ: NXST) from $30 to $42 in a research note Tuesday morning. The analyst made the call based on expectations of "rapid consolidation" over the next 12 to 18 months.

Senno claims Nexstar's management will likely target accretive acquisitions in small-to-medium market stations. The analyst believes this M&A will be within the $200-400 million range.

Senno feels "recent seller multiples imply an attractive premium” for Nexstar.

Nexstar shares are up more than 5 percent to $34.01 at last check. Senno's new price target represents potential upside of about 24 percent.

Latest Ratings for NXST

DateFirmActionFromTo
Jan 2016Gabelli & CoUpgradesHoldBuy
Dec 2015Barrington ResearchInitiates Coverage onOutperform
Nov 2015Stephens & Co.Initiates Coverage onOverweight

View More Analyst Ratings for NXST
View the Latest Analyst Ratings

Posted-In: Analyst Color News Price Target M&A Analyst Ratings

 

Related Articles (NXST)

View Comments and Join the Discussion!

Get Benzinga's Newsletters