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Two Firms Upgrade Lamar Advertising (LAMR) Today; Barclays and UBS Maintain Equalweight/Neutral

February 23, 2012 3:01 PM EST Send to a Friend
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Price: $51.36 +0.39%

Rating Summary:
    10 Buy, 9 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 26 | Down: 10 | New: 8
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Barclays maintains an 'Equalweight' on Lamar Advertising (NASDAQ: LAMR) price target raised to $32.

Analyst, Anthony J. DiClemente, said, "LAMR reported strong 4Q pro forma revenue growth of 4%, ahead of guidance for 2.5% growth. Also, cost saves from lower bonus payments led to EBITDA margin expansion of 190 bps y/y, as reported EBITDA of $125.8M came in solidly above our estimate of $118.6M. 1Q guidance of 3% revenue growth was above Street
expectations; however, we are modeling 3.5% top-line growth for 1Q, as we believe guidance is likely conservative given the benefit of later-cycle recovery tailwinds."

DiClemente raises PT to $32, citing more positive outlook, but maintains an Equalweight, saying the shares are close to fully valued.

Two other firms, Caris & Co. and MKM Partners, upgraded LAMR to Average/Neutral, respectively.

UBS maintained a Neutral, but raises its forward-looking numbers.

For an analyst ratings summary and ratings history on Lamar Advertising click here. For more ratings news on Lamar Advertising click here.

Shares of Lamar Advertising closed at $33.07 yesterday.




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Analyst Comments, Analyst EPS View, Analyst PT Change, Upgrades

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UBS, Barclays

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