Loop upgrades Nexstar to Buy into broadcasting deregulation

Loop Capital upgraded Nexstar (NXST) to Buy from Hold with a price target of $200, up from $190. The company reported a strong quarter with a 2025 EBITDA guidance inline with expectations, the analyst tells investors in a research note. The firm believes Nexstar is well positioned for potential local broadcasting deregulation with a balance sheet levered at less than three-times. It has a strong track record of prior TV station group acquisitions while the shares carry a 4.5% dividend yield, adds Loop. The firm firm cites the strong results, broadcasting deregulation, and valuation for the upgrade.