Jefferies upbeat on Australia's oOh!media on likely strong end to first-half

Ooh!Media

24/07/2023 05:46

** Analysts at Jefferies expect Australian outdoor
advertising firm oOh!media Ltd  OML.AX  to log an improved 1H23
results on the back of encouraging May and June performance
    ** Brokerage says May and June saw improvement from last
year; rates OML "hold" with a price target of A$1.25
    ** Says cautious on OML as "macro environment for media
(sector) remains febrile and OML has an unusually high level of
lease renewals in CY23/24"
    ** Expects 1H23 revenue of A$288 mln ($193.80 mln) vs
A$276.1 mln last year; sees NPATA tick higher to A$16 mln
    ** OML trading up 0.8% at A$1.32, as at 0410 GMT
    ** Three of seven analysts rate OML "buy" or higher, four
rate it "hold"; median PT is A$1.63 – Refinitiv data
    ** OML up 2% this year, as of last close, vs 4.2% increase
in ASX All Ordinaries index  .AORD  


($1 = 1.4861 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))