And then Lamar -- it's a billboard company. It's all in small markets. Their business has been turning and coming back and it's trading at 15 times free cash flow, ... We think it's worth 20 (per share) and can get taken up between 60 and 70 a share ... You're starting to see the rebound in advertising. The billboard business, for them, continues to be pretty steady and it's rebounding. So, it's more specific for Lamar but the industry is performing better.
More Quotes from David Beard:
We think pricing is going to be up in mid-single digits as early as June. People are not really looking at this at all. And historically, if you look at a price to sales multiple, this stock can trade as high as 40-to-50 (per share),David Beard
Last year gave us confidence, but it also gave us a goal and drive to build on to improve this year.
David Beard
The biggest of the big are finally capitulating, ... Usually that's what happens -- the biggest of the best are the last to go down. But don't forget the worst of the worst are down 90 percent.
David Beard
I think the market is saying that the Dow has been flat for a year. If you look at the Nasdaq, it's up 40 percent year to year. And so the Nasdaq is going to correct probably quicker than the Dow, or the Dow will tread water, while the Nasdaq continues to come in.
David Beard
The last two 'up' days have been on higher volume so you've seen the confirmation of a rally. Stocks aren't going down on bad news anymore.
David Beard
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