Wedbush Downgrades Clear Channel (CCO) to Neutral After Jump On Levered Dividend Announcement
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Price: $2.32 -0.43%
Rating Summary:
1 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
Rating Summary:
1 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
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Wedbush downgraded Clear Channel (NYSE: CCO) from Outperform to Neutral with a price target of $12.50.
The firm cited the 11% surge in the share price after the company announced it would issue $1.25bn in debt to finance a one-time dividend. The firm estimates the dividend could be ~$3.50 per share.
For an analyst ratings summary and ratings history on Clear Channel click here. For more ratings news on Clear Channel click here.
Shares of Clear Channel closed at $13.23 yesterday.
The firm cited the 11% surge in the share price after the company announced it would issue $1.25bn in debt to finance a one-time dividend. The firm estimates the dividend could be ~$3.50 per share.
For an analyst ratings summary and ratings history on Clear Channel click here. For more ratings news on Clear Channel click here.
Shares of Clear Channel closed at $13.23 yesterday.
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