Tegna price target lowered to $21 from $23 at Benchmark

Benchmark analyst Daniel Kurnos lowered the firm’s price target on Tegna (TGNA) to $21 from $23 and keeps a Buy rating on the shares. The spike in November and then effectively a sideways stall “pretty much sums up the renewed takeout hopes in a nutshell,” says the analyst, who adds in a preview that new Tegna CEO Mike Steib has “the unenviable task of convincing both employees and investors that there is life for Tegna beyond any acquisition, starting with 4Q24 earnings on Thursday.”