UBS initiates coverage on Australia's oOh!media with 'buy'

Ooh!Media

05/04/2024 01:15

** Analysts at UBS initiate coverage on oOh!media Ltd
 OML.AX  with "buy" rating and A$2.05 price target
    ** Shares of media co oOh!media slip 0.1% to A$1.7525 as of
0006 GMT 
    ** Brokerage UBS views OML as an attractive media co with
multiple structural tailwinds
    ** Says ongoing fragmentation of other traditional media
channels and further digitisation, among others, should be
tailwind for co
    ** Brokerage forecasts gross margins to remain broadly
stable after a major contract renewal phase in CY23 for co
    ** Five of eight analysts rate the stock "buy" and three
"hold"; their median PT is A$1.85 - LSEG Data
    ** OML up 6.0% YTD, as of last close 

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))