Publicis: Oddo's forecasts for Q1

(CercleFinance.com) - Oddo expects a 1.
2% organic decline in the first quarter and a further sequential improvement, after -3.9% in Q4.

Analysts expect organic growth of 5.1% in 2021 and cannot yet see a sufficient catalyst for a significant upgrade, the analyst said.

Oddo maintains its Neutral rating on Publicis shares, with a target price of 51 euros. The analyst confirms his preference for WPP in the near term, as the share seems to have a greater upside potential.

The broker notes that the group has some budgets that could support growth slightly in the second half of the year.

It expects the group's operating margin to increase by 60 bp in 2021, which is slightly above management's guidance (+50 bp), the broker adds.


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