Nexstar Media Group Price Target Raised to $300

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Nexstar Media Group (NASDAQ:NXST) had its price target increased from $250 to $300 by Benchmark, who maintained a buy rating on the stock. Several other analysts also raised their price targets, citing the company's resilient top-line performance and stable underlying operations, despite a material GAAP earnings miss driven by impairment charges and the absence of election-year advertising. However, regulatory uncertainty around Nexstar's proposed Tegna acquisition remains a significant overhang.

Why it matters

The price target increases and analyst commentary suggest that despite some near-term headwinds, Nexstar's core business remains strong and the stock may be undervalued compared to peers. This could make the stock attractive to investors, though the Tegna acquisition risk remains a concern.

The details

Benchmark raised its price target on Nexstar from $250 to $300, while maintaining a buy rating. Guggenheim and Wells Fargo also increased their price targets to $290, also keeping buy/overweight ratings. The analysts cited Nexstar's resilient top-line performance, with Q4 revenue coming in above consensus, and the company's stable underlying operations, even as advertising weakness persists. However, Nexstar reported a big GAAP earnings miss, driven by a $381 million impairment charge and the absence of election-year advertising.

• Benchmark raised its price target on March 2, 2026.

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