Nexstar Media Group Inc
NXST: XNAS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $476.00 | Nyb | Gnqpnfglg |
Nexstar Reports In-Line Q3; Well Situated to Benefit From 2022 Growth in Political Ad Spending
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Nexstar posted an in-line third quarter, as revenue and operating income met FactSet consensus forecasts. Core advertising was up 13%, as ad spending continues to recover from the pandemic. The firm’s online efforts expanded 47%, as local advertisers returned to the market. We are maintaining our no-moat rating and raising our fair value estimate to $165 from $150 because of stronger-than-projected digital revenue growth and higher expectations for political ad spending in 2022 and 2024.