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Fly News Breaks for July 12, 2018
APO, NXST
Jul 12, 2018 | 08:30 EDT
RBC Capital analyst Leo Kulp kept his Outperform rating and $90 price target on Nexstar (NXST), saying yesterday's reports of a potential interest in the company from Apollo Global (APO) reinforces the positive view among investors regarding its free cash flow prospects. The analyst adds that he has previously made the case for the company's free cash flow being "much more durable" than believed. Kulp also estimates that a private equity buyer could pay over $95 per share for Nexstar.