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Fly News Breaks for September 23, 2019
NXST
Sep 23, 2019 | 08:37 EDT
Benchmark analyst Daniel Kurnos raised his price target for Nexstar shares to $150 from $135 following the closure of the Tribune Media deal, noting the company's upwardly revised synergies and free cash flow guidance. He believes 2020 EBITDA "should be well north of $2B" when factoring in the Food Network cash distribution and he sees greater than anticipated upside from retrans through next year. Kurnos keeps a Buy rating on Nexstar shares.
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