Citi analyst Jason Bazinet downgraded Lamar Advertising (LAMR) to Neutral from Buy with an unchanged price target of $122. Lamar shares are trading near all-time highs and continues to be valued at a premium relative to its closet peer, Outfront Media (OUT), the analyst tells investors in a research note. The firm says that while there may be more upside to the equity if Lamar completes incremental acquisitions, it believes the upside is limited.
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