From the Houston Chronicle:
http://www.chron.com/disp/story.mpl/ap/fn/4364905.html
Cox, majority owned by privately held cable operator Cox Enterprises, "is the most speculated LBO play," she said. The likelihood of a buyout remains high, she said, but the timeline has probably been extended by the stock's recent run-up and a flood of radio assets now on the market. The analyst downgraded the stock to "Sell" from "Hold."
Furukawa also cut Cumulus to "Sell" and reduced her price target by $2 to $10, saying the company is now an unlikely takeover target. It focuses on small and medium-sized markets, but any potential buyer could also look to Clear Channel, which is selling its holdings in those markets.
Meanwhile, the analyst said the advertisement climate is not likely to sustain any gains in the fourth quarter.
http://www.chron.com/disp/story.mpl/ap/fn/4364905.html
Cox, majority owned by privately held cable operator Cox Enterprises, "is the most speculated LBO play," she said. The likelihood of a buyout remains high, she said, but the timeline has probably been extended by the stock's recent run-up and a flood of radio assets now on the market. The analyst downgraded the stock to "Sell" from "Hold."
Furukawa also cut Cumulus to "Sell" and reduced her price target by $2 to $10, saying the company is now an unlikely takeover target. It focuses on small and medium-sized markets, but any potential buyer could also look to Clear Channel, which is selling its holdings in those markets.
Meanwhile, the analyst said the advertisement climate is not likely to sustain any gains in the fourth quarter.