RUMOR MILL
Wednesday, April 14, 2021
iHEART STOCK SOARS
After-hours trading on Tuesday pushed iHeartMedia’s stock to more than $20 a share for the first time in the radio behemoth’s history.
The stock spiked more than 13% to close at $19.79 after BofA Securities media analyst Jessica Reif Ehrlich moved the company to "buy" from "underperform." The new price target over the next 12 months is $26.
Ehrlich’s bullish prediction rests on iHeart’s ability to get ad spending back to 2019 levels in the next quarter. Drive-time radio listening, meanwhile, has doubled over last year and iHeart’s podcasts continue to pump up its digital revenue growth. The return of live entertainment will also bolster the bottom line.
iHeartMedia was trading at $19.77 when the bell rang Wednesday morning.
KYNCL ANNOUNCES ATLANTIC REORG
Ertegun and Wexler's baby gets an extreme makeover. (9/20a)
 HITS' FIRST LIVE ISSUE TAKES THE STAGE THIS FALLWe're manning the merch table. (9/13a)
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THE GRAMMY SHORT LIST
Who's already a lock?
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
ALL THE WAY LIVE
The players, the tours, the enormous beers.
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