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Wedbush Starts Outfront Media (OUT) at Neutral

July 22, 2016 7:00 AM EDT
Get Alerts OUT Hot Sheet
Price: $16.83 +0.48%

Rating Summary:
    5 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 10
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Wedbush initiates coverage on Outfront Media (NYSE: OUT) with a Neutral rating and a price target of $26.00.

Analyst James Dix commented, "We see OUT shares as fairly valued, given short-term risks, e.g., loss of New York City Metropolitan Transit Authority (MTA) advertising contract (expiring 1/1/17) would reduce AFFO/share by ~10%. See Figure 19 for scenario analysis."

He added, "Our 2016/17 operating estimates are for organic growth of 4.3%/3.2%, and AFFO/share growth of 5.5%/3.5%. Management guidance calls for MSD-HSD growth in AFFO in 2016.

For an analyst ratings summary and ratings history on Outfront Media click here. For more ratings news on Outfront Media click here.

Shares of Outfront Media closed at $23.99 yesterday.



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