Nexstar Media Group

NXST · NASDAQ

$169.03+$3.23 (+1.95%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $165.80

NXST analyst rating

BuyConsensus of 7 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy7
Hold0
Underperform0
Sell0

12-month price target · 10 analysts

Average $251.83 (+49.0% upside)

Low: $208.17
Now: $169.03
High: $304.50

Upgrades and downgrades

The latest rating actions, newest first

NXST analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Aug 7, 2026	Maintains	Overweight	$253.00 → $249.00	53%
Wells Fargo	May 8, 2026	Maintains	Overweight	$290.00 → $253.00	53%
Barrington Research	Apr 28, 2026	Maintains	Outperform	$290.00	0%
Citigroup	Apr 10, 2026	Upgrade	Neutral → Buy	$252.00 → $220.00	60%
Benchmark	Apr 6, 2026	Maintains	Buy	$300.00 → $250.00	43%
Deutsche Bank	Mar 23, 2026	Maintains	Buy	$250.00 → $270.00	57%
Barrington Research	Mar 3, 2026	Maintains	Outperform	$290.00	0%
Citigroup	Mar 2, 2026	Maintains	Neutral	$204.00 → $252.00	60%
Wells Fargo	Feb 27, 2026	Maintains	Overweight	$250.00 → $290.00	53%
Benchmark	Feb 27, 2026	Maintains	Buy	$250.00 → $300.00	61%

The case for and against

Updated Feb 9, 2026

Bull case

Nexstar Media Group's extensive portfolio, which includes over 200 television stations across 116 markets and a significant presence in valuable swing states, positions the company to enhance its advertising and political revenue generation capabilities. With a merger with Tegna pending approval, Nexstar's total number of stations could increase to 259, reaching 80% of the US population, thereby amplifying its market influence and allowing for greater economies of scale in production and sales. Despite an anticipated increase in leverage to approximately 4x at closing, the strengthened in-market scale is expected to enable Nexstar to deliver a robust news product while competing effectively in the media landscape.

Bear case

Nexstar Media Group's extensive portfolio of over 200 television stations, including a merger with Tegna that could expand its reach to 259 stations, presents a significant concentration in an increasingly competitive media landscape. The company faces challenges related to changing consumer preferences towards digital content consumption and potential regulatory hurdles associated with its growth strategy, which could impact revenue and profitability. Additionally, Nexstar's financial performance may be adversely affected by rising costs associated with programming and distribution, as well as a declining advertising market, leading to concerns about its long-term financial health.

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