Jefferies reinitiates coverage on Australia's Nine Entertainment with 'buy' tag

Nine Entertainment Co Holdings

12/05/2026 20:33

** Jefferies reinitiates coverage on Nine Entertainment Holdings NEC.AX with "buy" rating and price target of A$1.30, a 35.4% premium to stock's last close

** Nine is a media firm and publisher of The Australian Financial Review, The Sydney Morning Herald and The Age

** Jefferies says following the acquisition of outdoor advertiser QMS Media, Nine is more resilient to a downturn in the ad market given its Outdoor segment is a "growing media category"

** Brokerage adds QMS is outpacing industry growth, given its skew towards digital and metro areas

** Jefferies also says Nine is taking market share in the TV segment, amid ongoing disruption at rival Seven West Media, which has since merged with Southern Cross Media SXL.AX

** Notes co's publishing subscription revenue grew 15% in Q3 with positive momentum continuing into Q4, but expects margins will be impacted by higher fuel costs

** Nine down 13.5% so far this year, as of last close

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))