Cowen Upgrades Lamar Advertising to Buy, Raises Target to $150 after Q4 Beat
Cowen & Co upgraded Lamar Advertising to Buy, raising its price target from $140 to $150 on 3% revenue growth and 1.4% AFFO expansion. The firm beat Q4 AFFO estimates with a 2.8% revenue gain and will speak at the Citi 2026 Global Property CEO Conference on March 2.
1. Cowen & Co Upgrade
On Feb 23, Cowen & Co upgraded Lamar Advertising to a Buy rating and raised its price target to $150 from $140, citing 3% revenue growth, 1.4% AFFO expansion and a 4.8% dividend yield. The firm noted a conservative leverage ratio of 3.2× and over $500 million in acquisition capacity alongside plans for a roughly 3% dividend increase.
2. Q4 AFFO Results
Lamar Advertising topped Q4 AFFO estimates, delivering a 2.8% year-over-year revenue increase driven by stronger local and national advertising sales. The company also issued its 2026 AFFO guidance, signaling confidence in sustained cash flow growth.
3. CEO to Speak at Citi Conference
CEO Sean Reilly is scheduled to participate in a live Q&A session at the Citi 2026 Global Property CEO Conference on March 2 at 7:30 am EST, which will be streamed on the company’s website and archived for 30 days.