WPP: UBS raises target price after technology day
(CercleFinance.com) - UBS raised its target price for the WPP share to 1,175 pence, from 1,125 pence, and reiterated its "buy" rating after the British ad giant held a "positive" briefing for investors and analysts on Wednesday.
"WPP's Technology day was upbeat despite no financials," the broker said in a note."If WPP is successful at transforming its technology offering a return to US peer growth is possible," it added.
WPP yesterday held a briefing for investors and analysts at its London campus, focusing on how technology is shaping its strategy and its offer for clients.
However, no material new financial information has been disclosed during the presentation, nor there was any update on current trading.
WPP shares are currently down 0.7% at 1,027.5 pence in London.
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