Barrington analyst Patrick Sholl has maintained their neutral stance on TGNA stock, giving a Hold rating yesterday.
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Patrick Sholl has given his Hold rating due to a combination of factors, including TEGNA’s solid recent performance and the pending sale to Nexstar. Core advertising trends finished the year better than expected, supporting revenue and EBITDA above his forecasts, and the company benefits from strong station positions in larger markets along with ongoing technology investments that enhance advertising monetization.
At the same time, he notes that overall revenue and EBITDA declined year over year due to the lack of political advertising, and subscriber losses are weighing on distribution revenue despite healthy retransmission rates. With the stock trading only modestly below the agreed acquisition price, the market already reflects substantial confidence in deal approval, while the timing and ultimate shape of broadcast deregulation remain uncertain, leading him to maintain a neutral, or Market Perform, stance rather than recommend buying or selling the shares.
In another report released yesterday, TipRanks – OpenAI also reiterated a Hold rating on the stock with a $22.00 price target.