On Jan 18, Zacks Investment Research upgraded technical
Clear Channel Outdoor Holdings Inc.
) to a Zacks Rank #1 (Strong Buy) largely on the back of strong
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Clear Channel's share price has been on an uptrend since Dec
2013, barring one or two occasions. The stock hit a 52-week high
of $10.69 on Dec 3 and is currently trading at $9.98 for a
healthy year-over-year return of 28.0%. Despite its price
appreciation, Clear Channel still has the wherewithal for the
stock to climb up. Investors remain upbeat as the company
continues to bring new advertising opportunities to the market
and aims to expand its business relationships with new
Focused expansion into emerging markets, new business
relationships with advertisers and financial flexibility are the
primary driving factors for Clear Channel.
Clear Channel is one of the largest outdoor advertising companies
in the world with displays spread across 40 countries worldwide.
The company aims to use innovative advertising concepts to expand
its reach to consumers.
At present, Clear Channel is concentrating on strengthening its
business and expanding its client base globally. The company has
made strategic investments to extend its national and local sales
platforms on radio to capitalize on the huge growth potential in
the out-of-home advertising sector, reaching out to mobile
consumers. At the same time the company is taking adequate steps
for increased digital investments.
Also, Clear Channel maintains a sound and flexible balance sheet
with ample liquidity for key acquisitions to fuel its top-line
Over the last 7 days, the earnings estimates for Clear Channel
did not show any upward or downward revision for the current
quarter and fiscal year. Despite the lack of estimate revisions,
we anticipate an uptrend for the stock backed by its strong
Other Stocks to Consider
Other players in the industry worth reckoning include
Lionbridge Technologies Inc.
Huron Consulting Group Inc.
), each carrying a Zacks Rank #2 (Buy).