- Goldman Sachs analyst Stephen Laszczyk initiated coverage of iHeartMedia Inc IHRT with a Buy rating and $32 price target, implying a 30.7% upside.
- iHeartMedia appears well-positioned to shift from a legacy terrestrial radio broadcast to a digitally-driven audio-media company, Laszczyk noted.
- He estimates the transition to lead to stable growth in revenue, EBITDA, and free cash flow.
- Price action: IHRT shares closed lower by 2.04% at $24.49 on Thursday.
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