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TGNA

Tegna

$16.69

-0.39 (-2.28%)

07:44
01/10/20
01/10
07:44
01/10/20
07:44

Tegna price target raised to $21 from $18 at Benchmark

Benchmark analyst Daniel Kurnos noted that Tegna pre-released a "tight window" for Q4 results while offering an initial look at its 2020 outlook as part of its recent bond offering. Q4 EBITDA guidance looks to be about $18M ahead of consensus, though he estimates "a more modest" $5M upside in the company's 2020 guidance, Kurnos tells investors, adding that both political and gross retrans rates appear to be coming in well ahead of expectations. He raised his price target on Tegna shares to $21 from $18 and keeps a Buy rating on the shares.

TGNA Tegna
$16.69

-0.39 (-2.28%)

08/20/19
GABE
08/20/19
NO CHANGE
GABE
Buy
Tegna an attractive target, but valuation could be an issue, says Gabelli
Gabelli analyst Brett Harriss noted The Wall Street Journal's recent report that Tegna (TGNA) was approached by Apollo Global (APO) regarding a potential transaction and while he thinks Tegna would be an attractive acquisition target whose assets would fit well with Apollo's, he also thinks valuation could be an issue. Tegna shares traded at $13 per share before takeout speculation emerged and he views 11x as the upper end for broadcast multiples, which would imply a $19 per share value for Tegna, said Harriss. He maintains a Buy rating on Tegna shares.
09/24/19
WELS
09/24/19
INITIATION
Target $17
WELS
Market Perform
Tegna initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Steven Cahall last night started Tegna with a Market Perform rating and $17 price target. While the company's acquisitions have been accretive, its estimates are "messier than peers," says the analyst.
10/28/19
JPMS
10/28/19
INITIATION
Target $18
JPMS
Neutral
Tegna reinstated with a Neutral at JPMorgan
JPMorgan analyst Alexia Quadrani reinstated coverage of Tegna with a Neutral rating and $18 price target following a period of restriction. The analyst sees a favorable risk/reward over the near term but has secular concerns on sector fundamentals, including the sustainability of higher retrans pricing, cord cutting, and the health of the local ad market in a possible recession. She recommends waiting for a better entry point to be more constructive on the shares.
12/11/19
GUGG
12/11/19
NO CHANGE
GUGG
Buy
Guggenheim says Nexstar, Gray best positioned for 'record' political cycle
Guggenheim analyst Curry Baker said "all signs point to another record political cycle in 2020" after several advertising planning agencies issued their updated 2020 forecasts over the past week. Total spending on political advertising is forecast to top $10B, which would be up roughly 15% from the $8.7B spent during the 2018 midterm cycle, Baker noted. After analyzing station group market overlap within competitive presidential states, U.S. Senate races, and gubernatorial races, Baker said he believes Nexstar (NXST) and Gray Television (GTN) are best positioned for the upcoming presidential cycle, naming them in that order as his top two picks among local TV broadcasters heading into 2020. He has Buy ratings on both stocks, as well as on Sinclair Broadcast (SBGI) and Tegna (TGNA). Baker has Neutral ratings on Meredith (MDP) and E.W. Scripps (SSP).

TODAY'S FREE FLY STORIES

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-0.1 (-0.50%)

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HRB

H&R Block

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-0.48 (-1.92%)

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MSM

MSC Industrial

$76.89

-1.58 (-2.01%)

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FB

Facebook

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0.23 (0.10%)

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SPY

SPDR S&P 500 ETF Trust

$331.98

1.08 (0.33%)

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S&P 500

$0.00

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SPDR S&P 500 ETF Trust

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TSLA

Tesla

$510.34

-3.065 (-0.60%)

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JPM

JPMorgan

$138.15

0.89 (0.65%)

, BNPQY

BNP Paribas

$0.00

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JPMorgan

$138.15

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BAC

Bank of America

$34.70

-0.03 (-0.09%)

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CEL

Cellcom Israel

$3.18

(0.00%)

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VRCA

Verrica Pharmaceuticals

$15.94

0.21 (1.34%)

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SO

Southern Company

$67.25

1.08 (1.63%)

, XEL

Xcel Energy

$65.38

0.34 (0.52%)

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Southern Company

$67.25

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XEL

Xcel Energy

$65.38

0.34 (0.52%)

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LIZI

Lizhi

$11.72

(0.00%)

, DNK

Phoenix Tree

$13.50

(0.00%)

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LIZI

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DNK

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$13.50

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Velocity Financial

$13.58

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IMAB

I-MAB

$12.90

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BSBK

Bogota Financial

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CSPR

Casper Sleep

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TLGT

Teligent

$0.40

-0.0025 (-0.62%)

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  • 24

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AYTU

Aytu BioScience

$0.80

0.0014 (0.18%)

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  • 24

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DVA

DaVita

$79.45

0.43 (0.54%)

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  • 23

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TSM

TSMC

$58.58

-0.18 (-0.31%)

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KKR

KKR

$31.20

0.7 (2.30%)

, APO

Apollo Global

$50.35

1.26 (2.57%)

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KKR

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$31.20

0.7 (2.30%)

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BX

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CG

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HLNE

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SPCE

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$15.65

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, TWNK

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