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Investing.com - JPMorgan has upgraded Outfront Media (NYSE:OUT) from Neutral to Overweight while raising its price target to $25.00 from $19.00. The stock is currently trading at $20.97, just 0.98% below its 52-week high of $21.41, reflecting strong recent momentum with a 33.37% price return over the past six months.
The upgrade reflects JPMorgan’s view that Outfront Media currently trades at a 22-36% discount to competitor Lamar Advertising on 2026 estimated EV/EBITDA and P/AFFO metrics, while offering a higher dividend yield of 5.72% compared to Lamar’s 4.8%. InvestingPro data shows the company’s current EV/EBITDA stands at 19.39, with multiple analysts revising earnings expectations upward for upcoming periods.
JPMorgan highlighted Outfront’s faster projected earnings growth, with adjusted EBITDA expected to increase 12% year-over-year in Q4 2025 and 9% in 2026, outpacing Lamar’s projected growth of 2% and 8% for the same periods. Analyst consensus on InvestingPro maintains a Buy rating on the stock, with price targets ranging from $19 to $24. Discover 10+ more exclusive ProTips and comprehensive analysis in Outfront Media’s Pro Research Report, available with a subscription.
The firm attributes this stronger growth outlook to several factors, including greater World Cup tailwinds, easier political comparisons in the fourth quarter, an improved outlook for the New York MTA contract, and higher operating and financial leverage.
JPMorgan sees potential for the valuation gap between Outfront and Lamar to narrow over the next 12 months, projecting Outfront to trade at 13.3x 2026 estimated EV/EBITDA compared to 15.4x for Lamar, versus current multiples of 11.9x and 15.2x respectively.
In other recent news, Outfront Media Inc. reported its third-quarter 2025 earnings, which exceeded analysts’ expectations. The company achieved an earnings per share (EPS) of $0.29, surpassing the forecasted $0.25, representing a 16% surprise. Additionally, Outfront Media reported revenues of $467.5 million, which also beat the anticipated $454.34 million. These results highlight the company’s performance in the latest quarter. The earnings announcement was followed by a modest increase in the company’s stock price. Analysts had projected these financial metrics, and the company’s performance exceeded these projections. The positive earnings and revenue figures are notable developments for investors.
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