Goldman Sachs Initiates Coverage On iHeartMedia With A Buy, Sees, 31% Upside

July 16, 2021 7:13 AM | 24 seconds read | Make a Comment

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.