Publicis: Oddo downgrades stock
(CercleFinance.com) - Oddo BHF has downgraded its rating on the Publicis stock from "outperform" to "neutral," given upside potential that now seems more limited relative to a target price of 51 euros, which the broker has maintained after its FY results.
Analysts say that it seems too early to apply stronger growth assumptions (over 2% in the medium term) that would justify them increasing their target price (above 60 euros).
Oddo BHF remains positive on agencies, although has adjusted its sector hierarchy given potential that it believes is greater for WPP (which it upgrades to "outperform," with a new target price of 1000 pence) than Publicis.
The share is currently down just over 1.5% in a flat market in Paris.
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