Lamar Advertising (LAMR) Investors Should Expect Tuck-In Deal, Says Topeka

Topeka Capital maintained a Buy rating on Lamar Advertising (NASDAQ: LAMR) with a price target of $65. Analyst David Miller said investors should expected announcements about tuck-in deals.

"We are issuing no major structural changes to projections for LAMR, but are "warning" investors long the stock to expect a series of announcements, likely splayed over the next 1-2 quarters, focused on acquisitions, specifically private, regional operators with terminal values in the $10 - $25mm range. While the nature of every deal LAMR does is always different in scale and scope, we believe one central theme prevails - LAMR will not do any deals unless they are accretive to AFFO (adjusted funds from operations) in Year 1. With that, we continue with a 'Buy' rating and price target of $65.00," said Miller.

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 $53.20 yesterday.

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