0314 GMT - Outdoor advertiser oOh!media's cost cuts give Jefferies analyst John Campbell greater confidence the Australian company will deliver on fiscal 2025 earnings expectations. Campbell tells clients in a note that the A$15 million in permanent cost reductions offer some comfort on the earnings outlook given what he sees as risk around oOh!media's current contract with Auckland Transport. The company announced the cuts in response to poor trading conditions and Campbell sees consumers staying cautious until local interest rates start falling. Jefferies has a buy rating and A$1.75 target price on the stock, which is down 1.3% at A$1.16. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 11, 2024 22:14 ET (03:14 GMT)
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