In a report released today, James Goss from Barrington upgraded Townsquare Media (TSQ) to Buy, with a price target of $15.00. The company’s shares closed last Tuesday at $8.74.
According to TipRanks.com, Goss is a 2-star analyst with an average return of 0.9% and a 47.6% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Entertainment Class A, Clear Channel Outdoor, and Nexstar Media Group.
Currently, the analyst consensus on Townsquare Media is a Moderate Buy with an average price target of $16.00, an 81.8% upside from current levels. In a report released yesterday, Noble Financial also maintained a Buy rating on the stock with a $17.00 price target.
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Based on Townsquare Media’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $95.36 million and net profit of $795K. In comparison, last year the company earned revenue of $113 million and had a net profit of $6.71 million.
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Townsquare Media, Inc. is a local media and entertainment and digital marketing services company. It owns and operates radio stations, digital and social properties and live events in small and mid-sized markets across the United States. The firm creates and distributes original entertainment, music and lifestyle content. The company operates through the following segments: Local Marketing Solutions and Entertainment. The Local Marketing Solution segment provides broadcast and digital products & solutions to advertisers and businesses within local markets. The Entertainment segment includes live event experiences, music and lifestyle content directly to consumers, promotion, advertising and product activations to local & national advertisers. The company was founded by Alexander Berkett, Steven Price, Scott Schatz and Stuart B. Rosenstein on February 26, 2010 and is headquartered in New york.
