UPDATE: Deutsche Bank Initiates Lamar Advertising at Buy on Possible REIT Conversion
Deutsche Bank initiated coverage on Lamar Advertising (NASDAQ: LAMR) with a Buy rating and a $45 price target.
Deutsche Bank commented, "We initiate coverage on Lamar with a Buy rating and a $45 target (20% upside potential) based on a view that Lamar converts 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. While uncertainties remain regarding timing and qualification of income, we see attractive probability- weighted upside/downside risk."
Lamar Advertising closed at $37.63 on Wednesday.
Latest Ratings for LAMR
|Aug 2015||JP Morgan||Maintains||Neutral|
|Mar 2015||Topeka Capital||Downgrades||Buy||Hold|
|Feb 2015||JP Morgan||Maintains||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.