Top broker rates this ASX advertising stock

Shares in outdoor advertising operator APN Outdoor Group Ltd (ASX: APO) have suffered through some share price volatility in the last 12-months, but are back on the up – rising 2% to $5.04 at the time of writing.

Morgans has upgraded profit forecasts for APN Outdoor, with expectations the company will book earnings growth for FY19 and has placed a hold rating on the stock.

Morgans has raised its price target on APN Outdoor to $4.86 from $4.44 as growth continues in the digital outdoor advertising space.

Other S&P/ASX 200 stocks on the up include oOh!Media Ltd (ASX: OML) which recently nabbed advertising rights to Qantas Airways Limited (ASX: QAN) in-flight entertainment.

Well-known real estate advertising platform REA Group Limited (ASX: REA) is booking gains as peer Domain Holdings Australia Ltd (ASX: DHG) appears to be stuck in reverse, with REA group shares up 28.6% at April 10 close from its $60.39 share price at this time last year while Domain Holdings dropped 16.2% from its $3.69 November 2017 IPO to land at $3.09 at April 10 close.

Foolish Takeaway

APN Outdoor’s digital arm seems to be its strongest performer and with some reliable contracts on its books and plans to snatch market share off its rivals, I’d back it for some decent share price gains in the medium-term.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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