Viad price target raised to $43 from $36 at Oppenheimer

Oppenheimer raised the firm’s price target on Viad to $43 from $36 given its strong outlook for 2024 and public comps that have seen multiple expansion since early fall, while keeping an Outperform rating on the shares. Shares of Viad are up 21% over the past month, outperforming the S&P 500. The firm sees further upside potential given the growth outlook for the Pursuit and GES businesses. Oppenheimer believes consensus estimates are conservative, estimating only 2% yar-over-year total company revenue growth excluding show rotation. There is also potential for margin growth in 2024.