TD Cowen Starts Outfront Media (OUT) at Hold

TD Cowen analyst Lance Vitanza initiates coverage on Outfront Media (NYSE: OUT) with a Hold rating and a price target of $16.00.

The analyst commented, "OUTFRONT is one of the top-three Out-of-Home advertising companies in the US. Offsetting an attractive, growing, and historically well-managed portfolio of billboard assets, we view its transit business - particularly its onerous NY MTA contract - as a significant impediment. Prospects would likely improve markedly if the NY MTA contract were to be remedied, but chances appear remote, in our view."

For an analyst ratings summary and ratings history on Outfront Media click here. For more ratings news on Outfront Media click here.

Shares of Outfront Media closed at $15.48 yesterday.

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