Molex Inc. (NASDAQ: MOLX), Ameristar Casinos (NASDAQ: ASCA), Clear Channel Outdoor Holdings, Inc. (NYSE: CCO), Computer Sciences (NYSE: CSC), Pinnacle West Capital Co. (NYSE: PNW) and R.R. Donnelley & Sons Company (NYSE: RRD) price targets adjusted.
Ameristar Casinos (ASCA) had its price target raised by FBR Capital from $24.00 to $27.00. They have an “Outperform” rating on the company.
Clear Channel Outdoor Holdings, Inc. (CCO) had its price target lowered by The Benchmark Company from $16.00 to $14.00. The have a “Hold” rating on the company.
Computer Sciences (CSC) had its price target lowered by Stifel Nicolaus from $50.00 to $45.00. They have a “Buy” rating on the company.
Molex Inc. (MOLX) had its price target lowered by UBS AG (NYSE:UBS) to $24.00. They have a “Neutral” rating on the company.
Pinnacle West Capital Co. (PNW) had its price target lowered by UBS AG to $43.00. The have a “Neutral” rating on the company.
R.R. Donnelley & Sons Company (RRD) had its price target lowered by The Benchmark Company from $23.00 to $19.00. The have a “Buy” rating on the company.
Showing posts with label Clear Channel Outdoor. Show all posts
Showing posts with label Clear Channel Outdoor. Show all posts
Friday, August 5, 2011
Monday, January 10, 2011
Clear Channel Outdoor (NYSE:CCO) Seeking Alternative Financing Avenues
Clear Channel Outdoor (NYSE:CCO) said in the latter part of December that they were seeking alternative financing sources, which is considered a negative by Miller Tabak, which sees them as having a strong balance sheet already.
Miller said, "On 12/24/10, CCMO announced that it was exploring various financing alternatives, one of which could most directly affect CCO shareholders, and that would be the potential for CCO to take on additional indebtedness. We believe CCO has no need for more debt – its balance sheet is already quite strong, with $665 mm of cash on hand at 9/30/10, another $254 mm due from CCMO, $2.5 bn of long-dated debt, an estimated $303 mm of ‘10E Free Cash Flow generation, and possibly another $322 mm in FCF."
Miller Tabak downgraded Clear Channel Outdoor from "Buy" to "Neutral." Clear Channel closed at $14.34 on Friday, losing $0.31, or 2.12 percent. Miller has a price target of $15 on them.
Miller said, "On 12/24/10, CCMO announced that it was exploring various financing alternatives, one of which could most directly affect CCO shareholders, and that would be the potential for CCO to take on additional indebtedness. We believe CCO has no need for more debt – its balance sheet is already quite strong, with $665 mm of cash on hand at 9/30/10, another $254 mm due from CCMO, $2.5 bn of long-dated debt, an estimated $303 mm of ‘10E Free Cash Flow generation, and possibly another $322 mm in FCF."
Miller Tabak downgraded Clear Channel Outdoor from "Buy" to "Neutral." Clear Channel closed at $14.34 on Friday, losing $0.31, or 2.12 percent. Miller has a price target of $15 on them.
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