IHeartMedia Announces Debt Restructuring, Analyst Turns Bullish And Raises Forecast
IHeartMedia Announces Debt Restructuring, Analyst Turns Bullish And Raises Forecast
Shares of iHeartMedia Inc (NASDAQ:IHRT) have climbed almost 70% year to date.
iheartmedia股票（NASDAQ:IHRT）今年以來上漲了近70%。
The radio and podcasting company, which recently cut 5% of its workforce, is restructuring debt. This removed an overhang on its stock, according to Bank of America Securities.
這家廣播和播客公司最近裁減了5%的員工，正在進行債務重組。根據美國銀行證券的說法，這消除了股票的某種壓力。
Analyst Jessica Reif Ehrlich upgraded the rating for iHeartMedia from Underperform to Neutral, while raising the price target from $1 to $3.
分析師Jessica Reif Ehrlich將iheartmedia的評級從表現不佳調升至中立，並將價格目標從1美元提高至3美元。
The iHeartMedia Thesis: The company has entered into a "transaction support agreement with a group of debt holders" to refinance at least 80% of its outstanding debt and extend maturities by three years, Ehrlich said in the upgrade note.
iheartmedia論點：根據調升通知，Ehrlich表示，該公司已與一組債權人簽署了「交易支持協議」，以至少80%的未償債務進行再融資，並將到期日延長三年。
Check out other analyst stock ratings.
查看其他分析師的股票評級。
Cash interest will be kept "essentially flat," which will result in an overall debt reduction, she added.
她補充說，現金利息將保持「基本持平」，這將導致總體債務減少。
"This removes a significant overhang for shares as the debt was approaching maturity, and there had been increased concerns regarding the company's ability to refinance their capital structure," the analyst wrote.
分析師寫道：「這消除了股票的重大壓力，因爲債務接近到期，並且人們對該公司能否重新融資其資本結構的擔憂在增加。」
IHeartMedia now has "a longer runway" to continue growing its digital business. It can also manage its cost base, and rejuvenate its broadcast business, Ehrlich said.
Ehrlich表示，iheartmedia現在「有更長的起飛跑道」來繼續發展數字業務。他們還可以管理其成本基礎，並使其廣播業務煥發活力。
The debt restructuring and better-than-expected 2025 guidance make the risk-reward "more balanced," Ehrlich said.
債務重組和預計2025年業務優於預期的指引使風險回報更爲平衡，Ehrlich表示。
Price Action: Shares of iHeartMedia had risen by 0.60% to $2.50 at the time of publication on Tuesday.
股價走勢：在週二發佈時，iheartmedia股票上漲了0.60%，至2.50美元。
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Image: Shutterstock
圖片：shutterstock
