Goldman Sachs analyst Kane Hannan maintained a Buy rating on Nine Entertainment Co. Holdings Limited (NEC – Research Report) on November 8 and set a price target of A$1.65. The company’s shares closed today at A$1.13.
Hannan covers the Technology sector, focusing on stocks such as Wisetech Global Ltd., Nextdc Limited, and Xero Limited. According to TipRanks, Hannan has an average return of 10.6% and a 68.18% success rate on recommended stocks.
In addition to Goldman Sachs, Nine Entertainment Co. Holdings Limited also received a Buy from UBS’s Lucy Huang in a report issued on November 8. However, on the same day, J.P. Morgan maintained a Hold rating on Nine Entertainment Co. Holdings Limited (ASX: NEC).
NEC market cap is currently A$1.79B and has a P/E ratio of 16.45.
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Nine Entertainment Co. Holdings Limited (NEC) Company Description:
Nine Entertainment operates Nine Network, a free-to-air television network spread across five capital cities, as well as in regional Northern New South Wales and Darwin. It also owns Australia’s third- largest portfolio of online digital properties, one that reaches more than 60% of the country’s active online audience. The merger with Fairfax combines Nine’s top-ranked TV network and the second- largest newspaper group, topped with a collection of quality digital assets in Nine Digital, subscription video on demand operator Stan, and Fairfax’s 59%-owned Domain. It ensures the merged entity remains relevant in the eyes of audiences and advertisers.
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