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Fly News Breaks for September 19, 2019
IHRT
Sep 19, 2019 | 08:53 EDT
B. Riley FBR analyst Zack Silver initiated coverage of iHeartMedia with a Neutral rating and $17 price target. The analyst believes the company is well positioned to continue to outperform the group, due to scale and ad-tech advantages as well as its multiple media platforms. However, his enthusiasm for the shares is tempered by continued softness in the advertising industry and an "unfavorable" risk/reward setup at current valuation levels.
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