Clear Channel Outdoor Holdings’ (CCO) Hold Rating Reaffirmed at Credit Suisse Group AG
Credit Suisse Group AG restated their hold rating on shares of Clear Channel Outdoor Holdings Inc. (NYSE:CCO) in a research report report published on Monday morning. The firm currently has a $14.00 target price on the stock.
“We estimate a reassessment of C$727Mln in taxable income in Q4. Valuation: We estimate Cameco is trading at an equity-implied uranium price of $50/lb, a 39% premium to the current UxC LT price of $36/lb – and compares to the post-Fukushima average of 24%.”,” Credit Suisse Group AG’s analyst wrote.
CCO has been the topic of a number of other research reports. Loop Capital started coverage on Clear Channel Outdoor Holdings in a report on Monday, September 12th. They issued a sell rating and a $5.50 price objective on the stock. TheStreet lowered Clear Channel Outdoor Holdings from a hold rating to a sell rating in a report on Wednesday, September 14th. Finally, Zacks Investment Research lowered Clear Channel Outdoor Holdings from a hold rating to a strong sell rating in a report on Tuesday, September 27th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $6.50.
Shares of Clear Channel Outdoor Holdings (NYSE:CCO) traded up 1.75% during mid-day trading on Monday, hitting $5.80. The stock had a trading volume of 2,012 shares. Clear Channel Outdoor Holdings has a 52-week low of $2.97 and a 52-week high of $7.31. The firm has a 50 day moving average price of $5.78 and a 200 day moving average price of $6.28. The firm’s market cap is $2.09 billion.
Several institutional investors have recently modified their holdings of the company. Blackstone Group L.P. boosted its position in shares of Clear Channel Outdoor Holdings by 40.3% in the third quarter. Blackstone Group L.P. now owns 3,220,940 shares of the company’s stock valued at $18,810,000 after buying an additional 925,885 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Clear Channel Outdoor Holdings by 2.9% in the second quarter. JPMorgan Chase & Co. now owns 5,618,649 shares of the company’s stock valued at $34,948,000 after buying an additional 159,764 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in Clear Channel Outdoor Holdings by 249.4% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 116,152 shares of the company’s stock valued at $678,000 after buying an additional 82,913 shares during the period. Analytic Investors LLC acquired a new stake in Clear Channel Outdoor Holdings during the third quarter valued at $379,000. Finally, D. E. Shaw & Co. Inc. raised its stake in Clear Channel Outdoor Holdings by 93.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 118,882 shares of the company’s stock valued at $694,000 after buying an additional 57,378 shares during the period. 9.31% of the stock is currently owned by institutional investors and hedge funds.
About Clear Channel Outdoor Holdings
Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company owns and operates billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. It operates in two segments: Americas outdoor advertising (Americas) and International outdoor advertising (International).
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