Citi raised the firm’s price target on Clear Channel Outdoor to $1.80 from $1.50 and keeps a Neutral rating on the shares. The analyst updated the firm’s scenario analysis for the company to account for latest peer multiples. Citi’s analysis consists of three scenarios: status quo, a recession, and a full sale of the company with an implied equity value of $3.10 per share. The firm continues to ascribe a 50% weighting to a full sale.
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