Morningstar ups fair value estimate on oOh!media on estimated lower capex

Ooh!Media

21/08/2023 21:42

** Morningstar raises fair value estimate on Australia's
oOh!media  OML.AX  to A$1.60 per share
    ** Says upgrade on the back of higher quality of revenue and
estimated lower capital expenditure
    ** 7% growth in first-half revenue to A$297 million 
($190.47 million) smashed management's despondent prior guidance
of a low-single-digit increase - Brokerage
    ** Says positive dynamics for maintainable earnings combined
with a reduction of about 15% capex estimates lead to higher
fair value estimate
    ** Stock has risen 12.8% this year, as of last close 


($1 = 1.5593 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))