Wedbush Starts Outfront Media (OUT) at Neutral
Get Alerts OUT Hot Sheet
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 10
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Recruit Holdings Co., Ltd (6098:JP) (RCRUY) PT Raised to JPY7,800 at Jefferies, 'emerged stronger since the last earnings season'
- Diploma Plc. (DPLM:LN) PT Raised to GBP42.75 at Jefferies, 'market has yet to appreciate fully the implications of faster long-term organic growth and further accretive M&A'
- Safran SA (SAF:FP) (SAFRY) PT Raised to EUR211 at Citi, 'remain positive on the aftermarket'
Create E-mail Alert Related Categories
Analyst Comments, New CoverageSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!