Macquarie envisages scope for the company to upgrade earnings guidance in the first half. The broker’s 2016 earnings estimates are currently 6% above the top end of company guidance.
The stock is a key pick, given the structural growth in out of home media. Outperform rating retained. Target rises to $5.30 from $4.55.
Target price is $5.30.Current Price is $5.19. Difference: $0.11 – (brackets indicate current price is over target). If OML meets the Macquarie target it will return approximately 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).