Nexstar price target lowered to $209 from $221 at Wells Fargo

Wells Fargo lowered the firm’s price target on Nexstar to $209 from $221 and keeps an Overweight rating on the shares. The outlook for Nexstar is basically unchanged, including the free cash flow going back to shareholders in the form of dividends, buybacks, and debt reduction, the analyst tells investors in a research note. The firm thinks Nexstar can modestly re-rate.