iHeartMedia price target raised to $3 from $1.90 at BofA

Core Viewpoint - BofA has raised the price target for iHeartMedia (IHRT) to $3 from $1.90 while maintaining a Neutral rating on the shares, indicating a belief that the stock is fairly valued after recent balance sheet restructuring [1] Group 1: Price Target and Rating - The price target for iHeartMedia has been increased to $3 from $1.90 [1] - BofA maintains a Neutral rating on iHeartMedia shares [1] Group 2: Financial Performance Expectations - The firm anticipates that iHeart's Q3 results will largely align with company guidance [1] - BofA maintains its Q3 revenue estimate for iHeartMedia at $984 million [1] Group 3: Future Outlook - The analyst is awaiting "more concrete signs of a true inflection in the Multiplatform group" before making further assessments [1]