Rosenblatt raised the firm’s price target on Nexstar (NXST) to $230 from $228 and keeps a Buy rating on the shares after adjusting estimates “as part of a regular post earnings/10Q update cycle.” While the pay TV sector was “thrown into a maelstrom of worry” due to Disney (DIS) and Charter’s (CHTR) high profile carriage impasse Friday that pushed Nexstar shares down 13%, the firm sees “the likely upshot from this episode as increased rollout of skinny bundles” and since TV stations anchor those, station groups would likely be relative out-performers in pay TV sub trends, so the news doesn’t “meaningfully change” its Nexstar stance, the analyst tells investors.
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