IHRTB - iHeartMedia: Set Up For Big 2024

2024-04-17 14:33:53 ET

Summary

• iHeartMedia, Inc. expects a big boost in ad revenues from the U.S. Presidential election cycle in 2024.
• The company has seen growth in its Digital Audio Group and Podcast segment, which provides a path to long-term growth.
• iHeartMedia stock only trades at ~5.5x EV/EBITDA targets.

Though iHeartMedia, Inc. ( IHRT , IHRTB ) faces a big advertising boost from the U.S. Presidential election cycle this year, the stock now trades back at the lows due to economic fears. In addition, the media company should ride the Podcast market growth over the next few years, as the revenue generated by this medium is still relatively small. My investment thesis remains ultra-bullish on the stock, with solid cash flows helping reduce the debt fears....

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