Information Provided By:
Fly News Breaks for January 28, 2020
LMCA, SIRI, IHRT
Jan 28, 2020 | 08:43 EDT
B. Riley FBR analyst Zack Silver upgraded iHeartMedia (IHRT) to Buy from Neutral with a price target of $23, up from $17. The analyst sees a "compelling setup" for the shares over the next year. He increased his 2020 and long-term estimates to reflect iHeartMedia's "meaningful" restructuring activity that began on January 14. His analysis suggests the company will cut over $50M in costs this year, driving close to 1% of an incremental adjusted EBITDA margin in 2020. Further, in a best-case scenario, Liberty Media's (LMCA) and Sirius XM's (SIRI) recent interest in iHeartMedia could evolve into a formal offer this year, Silver tells investors in a research note. If nothing else, the interest "provides a sturdier floor" for iHeartMedia's equity value, relative to the rest of the group, adds the analyst.
News For IHRT;SIRI;LMCA From the Last 2 Days
IHRT
Jan 18, 2022 | 12:53 EDT
"Game On" is The Fly's weekly recap of the stories powering up or beating down video game stocks. NEW RELEASES: This... To see the rest of the story go to thefly.com. See Story Here