Goldman Sachs Maintains Neutral on iHeartMedia, Lowers Price Target to $1
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Stephen Laws maintains a Neutral rating on iHeartMedia (IHRT) and lowers the price target from $2 to $1.

May 13, 2024 | 3:51 pm
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NEGATIVE IMPACT
Goldman Sachs has maintained a Neutral rating on iHeartMedia but lowered the price target from $2 to $1, indicating a cautious outlook on the stock's short-term price movement.
The reduction in price target by a significant financial institution like Goldman Sachs can lead to negative investor sentiment, potentially causing a short-term decline in the stock price. The Neutral rating suggests that the analyst sees limited upside or downside from the current price level, but the lowered price target indicates a more bearish view on the stock's valuation.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100