Benchmark Has Buy Rating On Lamar Advertising Company (LAMR)

Benchmark Capital has a Buy rating and a $44 price target on shares of Lamar Advertising Company LAMR, as it previews earnings on Wednesday. In a note to investors, Benchmark writes, "Lamar Advertising (LAMR–Buy, PT $40) is set to report 1Q11 earnings on Wednesday before the stock market opens. We believe Lamar may reach its 1Q11 guidance of $256 million in revenue, up 5% y/y, despite local sales rising only 3%. 1Q11 OIBDA could be up 7% y/y to $97 million, aided by ongoing cost controls. EPS could be a loss of $0.21. Potential management guidance for 2Q11 and discussion about sustaining mid-single digit revenue growth through 2011 may restore investor confidence in Lamar's growth prospects." Shares of LAMR lost 61 cents on Friday to close at $32.52, a loss of 1.8%.