Jefferies says Australia's Ooh!Media outdoor ad revenue 'structurally advantaged', shares up

Ooh!Media

17/01/2022 03:29

** Jefferies says outdoor advertising firm Ooh!Media Ltd's
 OML.AX  outdoor category revenue is structurally advantaged 
    ** Brokerage notes reversion of outdoor category as it sees
Omicron variant as the peak of the COVID-19 pandemic
    ** Sees FY21 EBIT estimates at A$30.3 mln ($21.84 mln), FY21
rev at A$505.3 mln
    ** Says earnings to fully normalise by FY23 with outdoor
category set to re-commence pre-COVID-19 market share gains once
Omicron concerns subside
    ** Shares of Ooh!Media rise as much as 1.2% to A$1.69, their
best intraday session since Jan 10
    ** Four of six analysts rate the stock "buy" or higher, two
"hold"; their median PT is A$1.70 – Refinitiv 
    ** Stock down 1.2% this year, as of last close 

    ($1 = 1.3875 Australian dollars)

 (Reporting by Aneetta Thomas in Bengaluru)
 ((Aneetta.Thomas@thomsonreuters.com;))