Wedbush Upgrades Lamar Advertising (LAMR) to Outperform; Calling 3Q as the Trough; Bluff of Groupon Threat, and Upside to 2012
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Price: $155.47 +0.21%
Rating Summary:
5 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush upgraded Lamar Advertising (NASDAQ: LAMR) from Neutral to Outperform with a price target of $27.00 (lowered from $30).
Wedbush analyst says, "Although we reduce 3Q to reflect downside risk, we’d rather be early as 1) 4Q should accelerate from 3Q and 2) we see upside to Street 2012. Our surveys show; 1) moderating yr/yr occupancy declines as 3Q progressed, and 2) 4Q starting with smaller occupancy declines than 3Q. Checks with operators confirm 4Q acceleration. Digital displays LAMR adds in 2011 could boost growth by 100bps+."
"We do not see new platforms like e-coupons or mobile as near-term threat to
billboard ads. First, per discussions with Groupon and others, we believe that ecoupon sites generally attract promotional budgets and businesses too small to have much budget for traditional media like billboards. We similarly believe mobile marketing is unlikely to affect billboard ad budgets, and the still small proportion of web sites optimized for mobile further reduces any threat to billboard budgets."
For more ratings news on Lamar Advertising click here and for the rating history of Lamar Advertising click here.
Shares of Lamar Advertising closed at $22.67 yesterday.
Wedbush analyst says, "Although we reduce 3Q to reflect downside risk, we’d rather be early as 1) 4Q should accelerate from 3Q and 2) we see upside to Street 2012. Our surveys show; 1) moderating yr/yr occupancy declines as 3Q progressed, and 2) 4Q starting with smaller occupancy declines than 3Q. Checks with operators confirm 4Q acceleration. Digital displays LAMR adds in 2011 could boost growth by 100bps+."
"We do not see new platforms like e-coupons or mobile as near-term threat to
billboard ads. First, per discussions with Groupon and others, we believe that ecoupon sites generally attract promotional budgets and businesses too small to have much budget for traditional media like billboards. We similarly believe mobile marketing is unlikely to affect billboard ad budgets, and the still small proportion of web sites optimized for mobile further reduces any threat to billboard budgets."
For more ratings news on Lamar Advertising click here and for the rating history of Lamar Advertising click here.
Shares of Lamar Advertising closed at $22.67 yesterday.
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