Market Overview

UPDATE: Benchmark Raises PT on Nexstar Broadcasting Group on Improving Trends

Related NXST
Benzinga's Volume Movers
Morning Market Gainers
Oppenheimer joins opponents of Media General/Meredith deal (Seeking Alpha)

In a report published Wednesday, Benchmark Company analyst Edward J. Atorino reiterated a Buy rating on Nexstar Broadcasting Group (NASDAQ: NXST), and raised the price target from $21.00 to $39.00.

In the report, Benchmark Company noted, “After a slow start, Nexstar's (NXST-Buy, PT from $21 to $39) television core advertising strengthened in 1Q13, improving each month in the quarter, in line with the industry trend. We believe the uptrend has continued into 2Q. Retransmission revenues are up sharply as new contracts with cable operators roll over and eMedia is also up. Among ad categories, more are up than down for both local and national, and in recent weeks, pacings have strengthened among national and local categories. Furthermore, we expect Nexstar will continue to be a buyer in the ongoing industry consolidation, positioning them well for what we think could be another record political year in 2014 and beyond.”

Nexstar Broadcasting Group closed on Tuesday at $34.00.

Latest Ratings for NXST

Sep 2015JefferiesUpgradesHoldBuy
Jun 2015The Bench
May 2015JefferiesMaintainsHold

View More Analyst Ratings for NXST
View the Latest Analyst Ratings

Posted-In: Benchmark Company Edward J. AtorinoAnalyst Color Price Target Analyst Ratings


Related Articles (NXST)

Get Benzinga's Newsletters