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Fly News Breaks for September 23, 2019
Sep 23, 2019 | 16:41 EDT
Wells Fargo analyst Steven Cahall started iHeartMedia with an Outperform rating and $21 price target. The analyst likes the company's combination of assets, which he says "spans the linear-to-digital divide." He believes radio station reach gives iHeartMedia a strategic advantage in national ad campaigns, steady cash flow from syndicated content, and a "nicely sized" Events portfolio.