Outfront Media price target lowered to $12 from $14 at JPMorgan

JPMorgan lowered the firm’s price target on Outfront Media to $12 from $14 and keeps a Neutral rating on the shares. The out-of-home industry saw a pause to start Q3 in July with national advertising campaigns being pushed into Q4, and while local advertising has been outperforming national, the strength from local appears to be waning, the analyst tells investors in a research note. The firm says Outfront’s billboard revenue remains soft.