Deutsche Bank Starts Lamar Advertising (LAMR) at Buy; Sees More Upside on REIT Conversion Plan
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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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On August 8, Lamar Advertising (NASDAQ: LAMR) announced it is considering an election to real estate investment trust (REIT) status. While shares are up 19 percent since, analysts at Deutsche Bank still see more upside and is now recommending the shares to clients.
Deutsche Bank initiated coverage on Lamar Advertising Thursday with a Buy rating and $45 price target based on the view that Lamar completes its plan to convert to a REIT.
"We expect Lamar's recent outperformance to continue as the current valuation does not appear to price in the full upside from conversion to a REIT, which we view as likely in 2014, including the digital displays business," the analyst said. Although their are uncertainties about timing and qualification of income, Deutsche Bank sees attractive risk/reward.
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 $37.63 yesterday.
Deutsche Bank initiated coverage on Lamar Advertising Thursday with a Buy rating and $45 price target based on the view that Lamar completes its plan to convert to a REIT.
"We expect Lamar's recent outperformance to continue as the current valuation does not appear to price in the full upside from conversion to a REIT, which we view as likely in 2014, including the digital displays business," the analyst said. Although their are uncertainties about timing and qualification of income, Deutsche Bank sees attractive risk/reward.
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 $37.63 yesterday.
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