Piper Jaffray Initiates Coverage on Lamar Advertising (LAMR) with a Neutral
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Piper Jaffray & Co. initiates coverage on Lamar Advertising Co. (Nasdaq: LAMR) with a Neutral. Price target $15.
Piper analyst says, "We are initiating coverage of LAMR with a Neutral as soft fundamentals, lack of visibility and high financial leverage outweigh an attractive business model, reasonable valuation and a strong management team. However, we are bullish on the long term prospects for the outdoor advertising business in general and Lamar in particular. We believe the out of home media space should continue to benefit relative to in-home media (TV, newspaper, magazines) as more cars join the road, drive more miles, and encounter longer commute times, in turn pushing ad impressions higher. A tight regulatory environment should provide a reasonable barrier to entry from other competitors."
Lamar Advertising Company (Lamar Advertising) is an outdoor advertising company in the United States based.
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