Wells Fargo warns on broadcaster stocks

|By:, SA News Editor

A new research report from Wells Fargo could create a bit of a chill in the broadcaster sector.

The investment firm warns on the risk that eager regulators will create an overhang. A "rationalizing" of valuation could be the results for stocks which have taken on a M&A-chatter ride.

Gray Television (GTN) and Nexstar Broadcasting Group (NXST) are taken down to a Market Perform rating from Outperform by Wells. (Earlier: SBGI to Market Perform)