Hedgeye CEO Keith McCullough is adding iHeartMedia (IHRT) to the long side of Investing Ideas. Below is a brief note.
While lots of people continue to miss this #Quad2 stock market ramp, there are plenty of buying opportunities underneath the hood of the market, especially in smaller cap names.
One name that Communications analyst Andrew Freedman likes (iHeartMedia, IHRT) is for sale on #decelerating volume today. Here's an intro to the idea from his Communications Pro research product:
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iHeartRadio (IHRT) - We are adding IHRT to the long bench in the Hedgeye Communications Position Monitor. We believe growth in digital and podcasts, combined with a cyclical recovery in ad-spend, is likely to drive IHRT higher in the next 12-months. While the radio broadcast market is mature, it is highly localized and therefore less at-risk of disruption from streaming in the near-term. Meanwhile, we like Liberty Media's involvement, having received DOJ approval to increase their ownership stake from 5% to up to 50%. |
Buyem on sale,
KM