In a report released today, Patrick Sholl from Barrington reiterated a Buy rating on Townsquare Media (TSQ – Research Report), with a price target of $13.00.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Patrick Sholl has given his Buy rating due to a combination of factors that highlight Townsquare Media’s strategic positioning and financial prospects. The company has successfully diversified its revenue streams, with digital operations now contributing significantly to both revenue and profits, reducing reliance on traditional radio operations. This shift aligns with the broader market trend of businesses moving their advertising spend to digital platforms.
Additionally, Townsquare Media’s Ignite and Interactive segments are poised for growth, with expected improvements in margins and stable revenue trends. The company’s strategic partnerships and licensing agreements further enhance its market reach beyond its radio footprint. Despite challenges in the advertising environment, the radio segment continues to generate solid cash flows, supported by a focus on local talent. A stable balance sheet and efforts towards debt reduction, alongside a reaffirmed price target of $13, underpin Patrick Sholl’s positive outlook on the stock.
According to TipRanks, Sholl is an analyst with an average return of -3.2% and a 44.64% success rate. Sholl covers the Communication Services sector, focusing on stocks such as CuriosityStream, Marcus, and National Cinemedia.