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Fly News Breaks for January 22, 2020
IHRT
Jan 22, 2020 | 08:05 EDT
21JPMorgan analyst Sebastiano Petti raised his 2020 EBITDA estimate for iHeartMedia by 4% to $1.085N, which is above consensus, to reflect the "strong" political advertising cycle as well as "sizable" margin expansion. As the 2020 presidential election nears, expectations for a ramp in political advertising revenue continue to grow, Petti tells investors in a research note. He keeps an Overweight rating on iHeartMedia with a $21 price target.
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