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Fly News Breaks for September 4, 2019
CCO
Sep 4, 2019 | 06:15 EDT
Citi analyst Jason Bazinet started Clear Channel Outdoor with a Neutral rating and $2.70 price target. The company's U.S. asset sales can reduce its leverage. However, a buyer will have to pay cash and it will be difficult for any single firm to acquire all of Clear Channel's U.S. assets given pro forma leverage, Bazinet tells investors in a research note. As such, he expects the company's asset sales to be gradual.
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