The first 3 1/2 months of 2019 are absolutely stellar on Wall Street for a company under tremendous scrutiny nearly one year ago the manner it which it sought FCC approval for a now-aborted merger with Tribune Broadcasting.
Sinclair Broadcast Group is continuing its strong year-to-date run on Nasdaq, and is rocketing to new record high after new record high.
On Wednesday, shares approached the $45.50 mark before closing at $45.39, up 41 cents. In early after-hours trading, SBGI was down 5 cents to $45.34.
With Q1 results due May 8, Sinclair may have even more growth ahead for its shining stock, up from $25.89 on December 17, 2018.
With a 1-year target price of $41.33, SBGI is already exceeding expectations.