Wedbush Morgan Initiates Coverage on Clear Channel Outdoor (CCO) with a Hold
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Wedbush Morgan initiates coverage on Clear Channel Outdoor (NYSE: CCO) with a Hold.
Wedbush analyst says, "Number one company worldwide in out-of-home advertising due to dominant, large-market U.S. billboard business. Outdoor should gain ad share in the recession, but international exposure could be a drag. 12-month price target of $6.50 supported by DCF analysis."
Clear Channel Outdoor Holdings, Inc. provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes, spectaculars, neons and mall displays.
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