iHeartMedia (IHRT) PT Lowered to $4.50 at Guggenheim

Guggenheim analyst Curry Baker lowered the price target on iHeartMedia (NASDAQ: IHRT) to $4.50 (from $5.00) while maintaining a Buy rating.

The analyst commented: "We are updating our model for iHeart to reflect the company's 4Q24 earnings and guidance. IHRT reported 4Q24 revenue of $1,118mm (revenue up 4.8% vs. guide of up mid-high digits) and adj. EBITDA of $246mm (vs. guide of ~$290mm), compared to our $1,163mm and $293mm forecasts. The company issued 1Q25 guidance for revenue to be down low-single digits (we are -1%) and adj. EBITDA of approximately $100mm-$110mm (we are at $106mm). The company reiterated 2025 adj. EBITDA guidance of approximately $770mm (we are at $770mm), and expects full-year revenue to be approximately flat. PT $4.50 (down from $5)."

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