From Earlier: Imperial Capital Maintains Salem Communications Outperform, $7.50 PT

Following recent meetings with company management, Imperial Capital maintained its Salem Communications SALM Outperform rating and $7.50 price target in a research report published today. In the report, Imperial Capital stated, "While some investors may to think they “missed the boat” following the rapid rise in SALM's stock price from March through May 2012, we believe long-term investors still have an opportunity for meaningful upside over the next 18+ months. We continue to believe the SALM story remains intact, with potential catalysts including increasing the December 2013 refinancing event, increased dividends in early 2013, and political revenues in 2H12." Shares of Salem Communications closed today at $5.04, up 1.51% from Tuesday's market close.