TD Cowen downgraded Clear Channel Outdoor (CCO) to Hold from Buy with a price target of $2.43, down from $2.50. The company’s go-shop period expired with no competing bids, the analyst tells investors in a research note. Regulatory risk is the next hurdle for the takeover but appears limited, the analyst tells investors in a research note.
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Read More on CCO:
- Neutral Outlook Maintained as Acquisition Caps Upside and Shifts Long-Term Benefits to Buyer
- Clear Channel Outdoor downgraded to Hold from Buy at TD Cowen
- Clear Channel Go-Shop Period Ends, Merger Path Solidifies
- Clear Channel Outdoor unit awarded new contract with Omaha Airport Authority
- Clear Channel Outdoor price target raised to $2.43 from $2.10 at Citi