2213 GMT - For oOh!media investors waiting on the re-tendering of a contract with Auckland Transport, Jefferies thinks no news is not good news. Analyst John Campbell points out there has been no announcement on the contract even though it appeared to close several months ago. The contract, which is due to expire on Jan. 1, represents some 4% of FY 2024 revenue, Jefferies says. "Our forecasts continue to assume the contract is renewed with oOh!media (at a lower margin) but acknowledge that the longer we go without hearing, the greater the risk," the bank says. If the contract is lost then that would drive an around 6% EPS downgrade, Jefferies adds. It retains a buy call on oOh!media. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 10, 2024 17:13 ET (22:13 GMT)
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