iHeartMedia, Inc. Reports Results for 2022 Fourth Quarter and Full Year
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JPMorgan Downgrades iHeartMedia (IHRT) to Underweight
March 1, 2023 5:44 AM ESTJPMorgan analyst Sebastiano Petti downgraded iHeartMedia (NASDAQ: IHRT) from Neutral to Underweight with a price target of $5.00 (from $10.00).
The analyst comments "iHeart reported mixed 4Q22 results and offered weaker-than-expected 1Q23 guidance. The company now expects 1Q23 consolidated revenue to decline midsingle-digits y/y with adj. EBITDA of $80-90m (-41% y/y at the mid-point). We update... More
