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Analyst Likes Clear Channel

Analyst Likes Clear Channel

As you ponder where to put that holiday bonus, at least one financial observer says you might consider Clear Channel.
Marci Ryvicker, senior analyst at Wachovia Capital Markets, said her company has resumed its coverage of Clear Channel Communications and gave the company stock an “outperform” rating.
“We see potential upside of 13-16% for the shares over the next 12 months as a result of improving fundamentals within the company’s core segments,” both radio and outdoor. The broadcaster has exhibited “consistent ratings improvement in 2005, and is experiencing increased advertiser acceptance of the 30-second marketplace,” she stated, finding the company’s stock valuation “compelling” right now.