Gilford Securities Reiterates Hold Rating on Entercom

Gilford Securities is out with a research report this afternoon, where it reiterates its Hold rating on Entercom (NYSE: ETM); it has a $6.00 price target on the stock.

The GS analysts cited the company's recent earnings results, which disappointed analysts. Company management noted that better pacings at the beginning of Q2 had faded. Booking were also indicated to be weak in Q3, which has lead analysts to cut estimates.