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home / news releases / CCO - Clear Channel Outdoor - Forget Entercom And The Rest Of Radio And Buy Billboards

CCO - Clear Channel Outdoor - Forget Entercom And The Rest Of Radio And Buy Billboards

Clear Channel Outdoor Holdings Inc. Class A
  • The Outdoor Advertising market has been historically resilient and we believe a return to growth is possible in the second half of 2021.
  • Other advertising stocks like Entercom have rallied strongly, leaving CCO potentially undervalued (valuation disconnect supported by hedge fund involvement from Ares Capital - purchased 8.0% of equity in 2020).
  • The company is in the market to refinance $940M of expensive 9.25% in subordinated notes which may unlock significant cash savings for CCO.
  • An SOTP valuation on normalized 2019 results implies a target share price of $5.54, or 177% upside based on a trading price of ~$2.0 today.

For further details see:

Clear Channel Outdoor - Forget Entercom And The Rest Of Radio And Buy Billboards
Stock Information
Company Name: Clear Channel Outdoor Holdings Inc. Class A
Stock Symbol: CCO
Market: NYSE
Website: clearchanneloutdoor.com
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