The company's strong market position in large and midsize markets. Its consistently high EBITDA margin in the high-40% area. The increased contribution from the company's faster-growing digital revenue. The company faces less structural pressure from online alternatives, unlike other media formats. The cyclicality of its advertising revenue. The execution risk associated with the large-scale conversion to digital displays in its newly extended Metropolitan Transportation Authority (MTA) contract in New York. The company's high debt leverage, which we expect to be in the low-5x area in 2018. Its good cash flow generation, which we expect will be in the $170 million to $190 million range in 2018 (before any deployment costs associated with the newly extended MTA agreement). Its reduced financial
