Jefferies cuts PT, earnings view on Australia's Ooh!Media

Ooh!Media

08/08/2022 21:59

** Jefferies cuts PT and earnings estimate on outdoor
advertising firm Ooh!Media Ltd  OML.AX , citing deteriorating
consumer environment as interest rate and inflation rises
    ** Brokerage ("buy") lowers PT by 9.1% to A$1.50 and FY22-24
earnings per share forecast by 12%, 12% and 2%, respectively
    ** "Given the consumer slowdown that Australia is seeing
with worse to come as rate rises progress/house prices fall, it
seems inevitable that ad spend will be impacted" - Jefferies
    ** Four of 6 brokerages rate stock "buy" or higher, two
"hold"; median PT is A$1.60
    ** Up to Monday's close, stock down 28% this year

 (Reporting by Shashwat Awasthi)
 ((Shashwat.Awasthi@tr.com
mailto:Shashwat.Awasthi@thomsonreuters.com))