LAMR Posts Q1 Results In Line With Expectations
Analysts at Oppenheimer & Co upgrade Lamar Advertising Co (NASDAQ: LAMR) from "underperform" to "perform," while raising their estimates for the company. The target price for LAMR is set to $44.
LAMR has posted Q1 results with a decline of 0.7% in revenues, in line with the analysts' estimate. “Digital is accelerating sequentially, and national is outperforming local (+3% y/y), with the latter expected to "catch-up" in 2H:10… We believe our analysis of Lamar's revenue growth vs. overall branded advertising using a 2-3 quarter lag, suggests strong 3Q and 4Q revenue, 2% and 5% above the Street, respectively,” the analysts mention.
Oppenheimer & Co has raised its EPS estimate for 2010 and 2011 from $(0.45) to $(0.13) and from $0.27 to $0.57, respectively.
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