Boyle Raises 2010 Growth Rate For Entercom
March 10, 2010 at 3:56 PM (PT)
GILFORD SECURITIES Sr. analyst JIM BOYLE is seeing major signs of life in ENTERCOM's ad revenue in 2010. In his latest note, he raises his estimates for growth, predicting 2010 revenue growth of 8.8%, starting with a Q1 bump of 8.5%:
"With JAN.-FEB. ETM bookings at +7% two weeks ago and anecdotal data implying MARCH was better, we'd anticipated upside potential," he wrote.
Another positive sign is include weekly inventory tightening, which has firmed up pricing. "Anecdotal evidence suggests business is firming up weekly, as is pricing, with some inventory sell-outs in FEB.-MARCH -- and Q2 'chatter' seems even better," he noted.