TGNA Price Prediction Next Week
Analysis and Insights
Technical Analysis:
TEGNA Inc (TGNA) is showing signs of potential reversal after entering oversold territory with an RSI of 27.5. The stock price is currently trading at $17.69, near the lower Bollinger Band, which often indicates a potential bounce. The MACD is slightly negative, but the histogram is flattening, suggesting a possible reversal.
Fibonacci Levels:
The Fibonacci levels indicate a pivot point at $17.61, with resistance levels at $18.51 and $19.08, and support levels at $16.70 and $16.13. A break above the pivot could signal a move toward the resistance levels.
News Sentiment and Buyback Program:
TEGNA has been highlighted for its aggressive share repurchase program, with $650 million authorized, which could enhance shareholder value and drive price appreciation.
Conclusion:
Based on the oversold condition, Fibonacci levels, and buyback program, the stock is expected to rebound. The predicted price target for the next trading week is $18.50.
Recommendation: Buy TEGNA Inc (TGNA) with a target price of $18.50.
TGNA Similar Chart Price Prediction
The price of TGNA is predicted to go up 4.32%, based on the high correlation periods with CKX. The similarity of these two price pattern on the periods is 92.69%.
TGNA
CKX
Up: 4.32%Similarity: 92.69%
TGNA Revenue Forecast
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TGNA Analyst's Forecast
Steven Cahall
Wells Fargo
Hold → Buy
2024-12-19
Price Target
$23
Upside
+26.86%
Wells Fargo upgraded Tegna to Overweight from Equal Weight with a price target of $23, up from $21. The firm expects broadcast consolidation from 2025 due to a de-regulating Federal Communications Commission. Tegna "will be the first move" and while broadcast fundamentals are tough, merger rationale "is as high as ever," the analyst tells investors in a research note. Wells points out that in February 2022, Tegna announced a deal to be acquired by Standard General for $24 per share.
