0001 GMT - UBS takes billboard owner oOh!media off its buy list, despite outdoor advertising outperforming the broader advertising industry in 2024. Analyst Evan Karatzas says oOh!media needs to show it has reversed, or at least stabilized, the significant market share losses of last year. Until then, UBS says it doesn't have "comfort oOh!media can deliver an appropriate return on invested capital on what remains a significant level of capex spend (circa 10% of sales)." UBS highlights that oOh!media's return on invested capital has now fallen below its cost of capital to 9%. UBS downgrades oOh!media to neutral, from buy, and cuts its price target by 32% to A$1.25/share. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 03, 2025 19:01 ET (00:01 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.