Clear Channel Outdoor price target lowered to $2 from $2.50 at Barrington

Barrington lowered the firm’s price target on Clear Channel Outdoor (CCO) to $2 from $2.50 and keeps an Outperform rating on the shares following the Q4 report. The firm likes the company’s positioning in a “very attractive market segment.” Clear Channel management continues to execute on a plan to divest operations outside of the U.S., with deleveraging a key priority going forward since its high financial leverage remains a risk, the analyst tells investors in a research note.