Newsmax (NYSE: NMAX), a conservative media company with expanding cable and digital reach, was initiated with an Outperform rating and $23 price target by Noble Capital Markets. Analysts cited the company’s position as the fourth most-watched cable news network in the U.S., supported by distribution across major MVPDs and streaming platforms. Noble said Newsmax is positioned for multi-year monetization across advertising and affiliate fee revenue, driven by a loyal, right-of-center audience and a diversified revenue model. Revenue has grown more than 300% since 2019, fueled by digital expansion and broader platform reach.

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About Newsmax

Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation’s leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major pay TV providers. Newsmax’s media properties reach more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website Newsmax.com, and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches 20 million combined followers. Reuters Institute says Newsmax is one of the top U.S. news brands and Forbes has called Newsmax “a news powerhouse.”

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