Jubak Journal
Changes to Jubak's Picks
Sell Lamar Advertising. After the close on May 6, Lamar Advertising (LAMR) reports earnings. I think there's a good likelihood that the company will report further improvement in the outdoor advertising market, with billboard occupancy inching up another 3 percentage points to 80% from the current 77%. (That comes on top of the improvement to 77% from 74% last quarter.) But that starts to push Lamar's occupancy numbers near historical averages, and I have trouble justifying an increase to my current price target of $45. That leaves me waiting around for a last 10% gain from recent price levels. I find the current market just too risky for that. So I'm selling Lamar Advertising with this column at a 2% loss since adding the shares on March 12, 2002. That 2% loss masks a lot of volatility, though. In July 2002, this position was almost 36% under water. In the last six months, the stock is up 17%. (Full disclosure: I will sell my shares of Lamar Advertising on May 7.)TheStreet Premium Services
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