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Fly News Breaks for June 6, 2019
OUT
Jun 6, 2019 | 05:03 EDT
Imperial Capital analyst David Miller upgraded Outfront Media to Outperform from In-Line and raised his price target for the shares to $29 from $25. The analyst increased his estimates for fiscal 2019 and 2020 due the company's share gains against other forms of media. His higher estimates for 2020 are due to a "more robust" outlook for Outfront's transit business, particularly digital signage in New York City. Certain factors have "simultaneously converged, both macro in nature and company- specific," Miller tells investors in a research note.
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