UBS Maintains a 'Neutral' on Lamar Advertising (LAMR); Digital Helped 4Q Beat; Raising Estimates

UBS maintains a 'Neutral' on Lamar Advertising (NASDAQ: LAMR) price target raised from $28 to $32.

UBS analyst says, "4Q digital growth was 23% in 4Q, with same board growth accelerating from low to mid SD growth in 2Q/ 3Q to 6.4% in 4Q. However, analog revenue growth was only ~1% in 4Q a deceleration from 1.6% in 3Q, with the growth driven by occupancy as pricing was flat in the Q. We are adj. our 1Q/ ’12 rev to $265M/ $1.18B vs. prior $263M/ $1.17B and EBITDA (incl. SBC) to $94M/ $499M vs. our prior $96M/ $490M. We maintain our Neutral rating, primarily on valuation."

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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