With the Dow Jones Industrial Average falling 133.17 to 25,673.46 and Nasdaq off 70.44 to 7,505.92, most media stocks were in the red on Wednesday. Not Nexstar Media Group.
The TV company that seeks to merge with Tribune Media hit another new record high.
At the Closing Bell on Wednesday, NXST was up 71 cents, to $103.21.
This shows that investors are confident in a 1-year target price of $112.45 set for the company by Wall Street analysts.
It is also a signal of approval of Nexstar’s Q4 and full-year 2018 results, and its Q1 2019 forecast.