Publicis: Oddo raises target price
(CercleFinance.com) - Publicis held a conference call yesterday following the publication of its Q3 results.
Oddo believes that management adopted a positive tone and has specified its guidance for Q4, now expecting organic growth of +4/6% for the period (Oddo BHF estimates +5%). The trend therefore remains good and solid, with a very good performance from digital assets (Epsilon and Sapient).
Following the publication of this sound Q3, analysts have increased their 2021 and 2022 EPS estimates by an average of about 3%. They have also nudged up their margin forecast to 17.2% from 17%. For 2022, the broker expects organic growth of 1.8% and a margin of 17.3%, Oddo says.
The analyst has added a euro to his target price to 58 euros from 57 euros, although remains Neutral on the stock, saying that while its valuation remains attractive, visibility over 2022 appears to be too low to adopt a buy rating for the moment.
The share is currently up 1.4% at 59.3 euros, outperforming the market by about 1%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Oddo believes that management adopted a positive tone and has specified its guidance for Q4, now expecting organic growth of +4/6% for the period (Oddo BHF estimates +5%). The trend therefore remains good and solid, with a very good performance from digital assets (Epsilon and Sapient).
Following the publication of this sound Q3, analysts have increased their 2021 and 2022 EPS estimates by an average of about 3%. They have also nudged up their margin forecast to 17.2% from 17%. For 2022, the broker expects organic growth of 1.8% and a margin of 17.3%, Oddo says.
The analyst has added a euro to his target price to 58 euros from 57 euros, although remains Neutral on the stock, saying that while its valuation remains attractive, visibility over 2022 appears to be too low to adopt a buy rating for the moment.
The share is currently up 1.4% at 59.3 euros, outperforming the market by about 1%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.