Shares of iHeart Media jumped 5.28% on Monday to $13.55, buoyed in part by a Barron's piece predicting the radio station giant, having shed massive amounts of debt, was ready to embark on a more hopeful new chapter.
The article also cited iHeart's big push into digital streaming and podcasting, arguing the company is strongly positioned to grow in these evolving sectors.
IHeart is set to release its quarterly earnings report on Thursday.
Zacks Investment Research is also a fan of what it's hearing these days from iHeart Media, and recently offered a dose of cautious optimism in an outlook piece written shortly after the radio behemoth emerged from Chapter 11 bankruptcy protection.
IHeart's digital media unit accounts for just 7% of its "top-line," even as it accounts for most of its growth. IHeart has bragging rights as the No. 1 streaming broadcast radio platform, with 128 million registered users, Zacks noted.
"If it is able to continue to gain market share, this segment could propel them back into profitable growth," Zacks predicted.
And iHeart is also banking heavily on podcasting to drive future growth as well.
IHeart, which has 850 broadcast stations across the United States, recently announced plans to launch a new program across more than a quarter of its stations, "Sunday Night Podcasts."