Nexstar is seeking to realize value at what could be a near-term peak based on sentiment in the TV sector, RBC Capital Markets analyst David Bank said in a research note.
Bank, who raised his price target on the stock by $2 to $13, said the proximity to a presidential election year and positive momentum in retransmission consent fee negotiations are fuelling investor interest in TV broadcasting.
"We believe NXST could fetch $15/share on an outright sale," Bank said.
Bear Stearns analyst Victor Miller also said he estimated Nexstar's take-out at $15 to $20.
"Nexstar has been in a prolonged acquisition mode and has never been able to sell a property. With its recent aggressive run at Clear Channel's TV stations, it looked like more of the same. But this change of heart should pay off for shareholders," Miller said in a research note.
Nexstar Broadcasting owns KSNF in Joplin and KSFX in Springfield, and operates KODE in Joplin and KOLR in Springfield.