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Fly News Breaks for February 3, 2020
CCO
Feb 3, 2020 | 05:58 EDT
JPMorgan analyst Alexia Quadrani initiated coverage of Clear Channel Outdoor with a Neutral rating and no price target. The analyst sees "notable challenges" in the company's "lower-margin" International business weighing on total company performance. Further, Clear Channel's capital structure is an obstacle as its considerable leverage limits M&A optionality to increase its scale and invest in the business, Quadrani tells investors in a research note.
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