FBR Capital analyst William Bird reiterated an Outperform rating and boosted his price target on Lamar Advertising (NASDAQ: LAMR) to $66.00 (from $60.00) following Q4 results.

Bird commented, "Conference call comments were constructive, with the forecast for 2.5%–3.0% growth in national a highlight after three straight down quarters. Achieving the high end of AFFO guidance of $4.34–$4.45 is predicated on 3% revenue growth and 2% expense growth, which management believes is achievable given where the business currently stands. We tweak our 2015 AFFO estimate to $4.43 (previous $4.51) and our adjusted EBITDA to $580M (previous $585M). We maintain our Outperform rating and raise our price target to $66 from $60, as we believe LAMR’s valuation will converge with lodging REIT peers, and we believe LAMR offers a high (4.7% dividend yield) and growing distribution."

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Shares of Lamar Advertising closed at $58.36 yesterday.