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Fly News Breaks for August 26, 2019
IHRT
Aug 26, 2019 | 06:32 EDT
As previously reported, Morgan Stanley analyst Benjamin Swinburne started iHeartMedia with an Equal Weight rating and $15 price target. The analyst is positive on the company's 20% free cash flow yield offering "downside support" for the shares at current levels, but he is also concerned with the rising U.S. recession risk and the radio industry having become "mature" while pointing to iHeartMedia's large operating and financial leverage.
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