TD Cowen lowered the firm’s price target on Lamar Advertising (LAMR) to $150 from $160 and keeps a Buy rating on the shares. The firm viewsLamar s weaker-than-expected AFFO guide largely as a function of a weak revenue outlook combined with an elevated near-term cost structure. The guidance appears extremely cautious and they remain above-consensus on revenue and AFFO growth for FY25 with potential upside revisions alongside quarterly earnings likely to serve as catalysts.
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Read More on LAMR:
- Lamar Advertising’s Growth Potential: A Buy Rating Amid Cautious AFFO Guidance and Digital Advertising Opportunities
- Lamar Advertising Reports Mixed 2024 Financial Results
- Lamar Advertising reports Q4 AFFO $2.21, consensus $2.21
- Lamar Advertising sees FY25 AFFO $8.13-$8.28, consensus $7.98
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