The Indiana Fever and WTHR, a prominent NBC affiliate owned by TEGNA (TGNA, Financial), have secured a multi-year extension to their distribution agreement, aiming to enhance basketball coverage for fans in central Indiana. This renewed partnership will see WTHR and TEGNA's MeTV affiliate, WALV, broadcasting 18 Fever games locally, providing extensive access to fans who are eager to follow the team's journey back to the WNBA playoffs.
Last season, WTHR played a pivotal role in expanding the Indiana Fever's viewership, serving as the team's local broadcast hub. The station's coverage resulted in a significant increase in local audience size, with Fever games attracting almost two-thirds more viewers compared to nationally televised ones. Specifically, these local broadcasts achieved a 63% rise in household ratings over national games, reflecting the success in reaching a broader audience beyond just avid sports followers.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Tegna Inc (TGNA, Financial) is $20.80 with a high estimate of $23.00 and a low estimate of $19.00. The average target implies an upside of 31.98% from the current price of $15.76. More detailed estimate data can be found on the Tegna Inc (TGNA) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, Tegna Inc's (TGNA, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Tegna Inc (TGNA, Financial) in one year is $19.63, suggesting a upside of 24.56% from the current price of $15.76. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Tegna Inc (TGNA) Summary page.
