Today Argus Keeps a Buy Rating on TEGNA (NYSE:TGNA) and a $33 Target Price

Share

TEGNA (NYSE:TGNA) Rating Reaffirmed

New York: In an analyst note issued to clients on 7 December, Argus reconfirmed their Buy rating on TEGNA (NYSE:TGNA) shares. They now have a $33 target price per share on the firm. Argus’s target indicates a potential upside of 17.10% from the company’s last stock price.

From a total of 8 analysts covering Tegna Inc (NYSE:TGNA) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $45 while the lowest target price is $25. The mean of all analyst targets is $31.75 with a 5.75% above today’s ($28.18) stock price. Tegna Inc was the topic of 9 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Stephens initiated shares on November 18 with “Overweight” rating. Barrington Research maintained TGNA stock in a recent report from August 26 with “Outperform” rating. Finally, Jefferies downgraded the stock to “Hold” rating in a report issued on an August 4.

The stock increased 2.29% or $0.63 on December 4, striking $28.18. Approximately shares of stock traded hands. Tegna Inc (NYSE:TGNA) has declined 19.55% since May 4, 2015 and is downtrending. It has underperformed by 18.48% the S&P500.

Today Argus Keeps a Buy Rating on TEGNA (NYSE:TGNA) and a $33 Target Price

TEGNA Inc., formerly Gannett Co., Inc. is a media and marketing solutions company. The company has a market cap of $6.25 billion. The Firm is engaged in providing local content on a range of platforms in the United States. It has 7.5 P/E ratio. The Firm operates through Broadcasting and Digital divisions.

According to Zacks Investment Research, “TEGNA owns the broadcasting assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA, Inc. (Ticker: TGNA) and a publishing company called Gannett Co., Inc. (Ticker: GCI). TEGNA owns 64 television stations and is the largest independent television station group of major network affiliates in the top 25 markets. TEGNA’s digital assets include sites like Cars.com, CareerBuilder and others.” Get a free copy of the Zacks research report on Tegna Inc (TGNA).

COMMENTS: