The company indicated that further capital management initiatives may be possible in fiscal year 2026. Goldman Sachs expressed concern about Nine's television outlook through FY26, noting flat second-quarter revenue projections alongside higher costs. The firm also highlighted higher-than-expected capital expenditure plans for fiscal year 2026. Following the DHG divestment, Nine Entertainment now derives 47% of its earnings from its television segment compared to 33% previously, increasing its exposure to a business area Goldman Sachs remains cautious about. The stock has gained 49% year-to-date, with Goldman's unchanged price target now representing a 5% downside to the last closing price of $1.84. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.