iHeartMedia price target lowered to $1 from $1.70 at BofA

BofA lowered the firm’s price target on iHeartMedia to $1 from $1.70 and keeps an Underperform rating on the shares. The firm believes that the growth outlook, coupled with iHeartMedia’s capital structure, will likely weigh on shares in the near term and does not anticipate leverage improvement in 2025 absent political uplift, the analyst tells investors.