Analyst Daniel Kurnos of Benchmark Co. maintained a Buy rating on TEGNA (TGNA – Research Report), with a price target of $21.00.
Daniel Kurnos has given his Buy rating due to a combination of factors that suggest potential growth and improvement in TEGNA’s performance. Despite some challenges such as stuttering growth in Premion and a sluggish national advertising market, there are signs of positive change. The new CEO, Mike Steib, is tasked with steering the company beyond just acquisition prospects, focusing on growth initiatives and cost-cutting measures that could create a compelling narrative as the year progresses.
Additionally, there is cautious optimism surrounding Premion’s potential growth, which is expected to record a modest increase. Although the core estimate predicts a decline in national advertising revenue, cost controls and restructuring efforts have shown positive results, supporting EBITDA protection. While there are some conservative views on revenue and EBITDA projections for 2025, the potential for strategic reinvestment and cost-saving initiatives could contribute to a more favorable outlook in 2026, enhancing TEGNA’s growth profile.
According to TipRanks, Kurnos is a 4-star analyst with an average return of 3.1% and a 47.81% success rate. Kurnos covers the Communication Services sector, focusing on stocks such as Roku, IAC/InteractiveCorp., and Cineverse.
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