Jefferies Keeps a Hold Rating on TEGNA Inc

By Austin Angelo

In a report released today, John Janedis from Jefferies reiterated a Hold rating on TEGNA Inc (NYSE: TGNA), with a price target of $16. The company’s shares opened today at $15.35.

According to TipRanks.com, Janedis is a 5-star analyst with an average return of 8.0% and a 64.0% success rate. Janedis covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Live Nation Entertainment, and Madison Square Garden Co.

Currently, the analyst consensus on TEGNA Inc is Moderate Buy and the average price target is $22.50, representing a 46.6% upside.

In a report issued on May 18, FBR Capital also reiterated a Hold rating on the stock with a $24 price target.

TEGNA Inc’s market cap is currently $5.1B and has a P/E ratio of 8.21. The company has a book value ratio of 1.4403.

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TEGNA, Inc. is comprised of a dynamic portfolio of media and digital businesses which provides content that matters and brands that deliver. It operates through Media, and Digital segments. The Media segment is refers to the sale of advertising time on the television stations. The Digital segment is consist of Cars.com; CareerBuilder; and G/O Digital businesses. The company was founded by Frank E. Gannett in 1906 and is headquartered in McLean, VA.