Wells Fargo Raises Nexstar Media Group Price Target to $290

Analysts see continued growth potential for the media company's stock.

Mar. 3, 2026 at 5:15am

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Wells Fargo & Company has increased its price target for Nexstar Media Group (NASDAQ:NXST) from $250 to $290, citing the company's strong performance and growth prospects. The investment bank maintained its 'overweight' rating on the stock, with several other analysts also raising their price targets and ratings in recent weeks.

Why it matters

Nexstar Media Group is one of the largest owners and operators of local television stations in the United States, with a presence in over 100 markets. The increased price target from Wells Fargo suggests Wall Street's confidence in the company's ability to continue growing its business and shareholder value.

The details

In its research report, Wells Fargo cited Nexstar's successful integration of recent acquisitions, strong cash flow generation, and potential for further growth through additional M&A activity. The bank also noted the company's diversified revenue streams from broadcasting, digital, and distribution agreements.

  • Nexstar Media Group reported its latest quarterly results on February 28, 2026.
  • Wells Fargo issued its updated price target and rating on Nexstar on the same day.

The players

Nexstar Media Group

A diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks.

Wells Fargo & Company

A major American multinational financial services company that provides a range of banking, investment, and mortgage products and services.

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