Publicis: share rises on broker upgrade
(CercleFinance.com) - The Publicis share is up 1.
4% at 28.5 euros at lunchtime on Tuesday, benefiting from Oddo BHF upgrading its rating from "reduce" to "neutral," while nudging up its corresponding target price from 31 euros to 32 euros, deeming that the worst is now probably behind the media group.
The broker has raised its expectations, now expecting a lower organic decline in Q2 (-18% vs. -25%) and 2020 (-10.2% vs. -12.2%), believing that the second quarter may have resisted slightly better than it expected in recent weeks.
Beyond 2020, the broker's assumptions remain cautious (-0.5% organic decline from 2022 and a long-term margin of 15%), the analyst adds. However, he says that he could increase these estimates - if structural weaknesses are addressed.
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