Nexstar price target lowered to $167 from $175 at Wells Fargo

Wells Fargo analyst Steven Cahall lowered the firm’s price target on Nexstar to $167 from $175 and keeps an Equal Weight rating on the shares. The firm also lowers its estimates for Nexstar mostly due to The CW. However, distribution drama is largely over. The stock is inexpensive with cash deployment, Wells says as it remains on the sidelines awaiting a stronger positive catalyst path.