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Fly News Breaks for December 4, 2018
TRCO, NXST
Dec 4, 2018 | 08:07 EDT
Benchmark analyst Daniel Kurnos raised his price target on Nexstar (NXST) to $115 from $96, stating that he believes the company's deal to buy Tribune Media (TRCO) puts Nexstar on track to become the "dominant player in the broadcast space." He sees Nexstar doing all that it takes to consummate the transaction, which in his view will increase the likelihood of a longer-term buyout from private equity, Kurnos tells investors. He maintains a Buy rating on Nexstar shares.
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