Lamar Advertising "underweight"

02/18/03 - Lehman Brothers

NEW YORK, February 18 (New Ratings) – Analyst William M. Meyers of Lehman Brothers issues an "underweight" rating on Lamar Advertising (LAMR). The target price has been reduced from $38 to $35.

The analyst mentions that Lamar Advertising reported 4Q02 results in-line with expectations. Lehman Brothers, however, expresses concern regarding the company’s operating leverage and the near absence of acquisition opportunities in 2003.