Publicis: Berenberg raises target price
(CercleFinance.com) - On Monday Berenberg raised its target price for Publicis shares from 62 euros to 65 euros, maintaining its buy recommendation on them.
In a report, the German private bank notes that the French advertising group's organic growth came in at 11.2% in the third quarter, well above the consensus, which was looking for 8.2%.
It means that organic revenue growth came in 5% above its level in Q3 2019, the broker points out.
For Berenberg, this is a "solid" performance that proves that Publicis is posting a recovery that goes well beyond a simple post-Covid rebound.
The share is currently down about 0.8%, just outperforming the index in Paris.
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.
In a report, the German private bank notes that the French advertising group's organic growth came in at 11.2% in the third quarter, well above the consensus, which was looking for 8.2%.
It means that organic revenue growth came in 5% above its level in Q3 2019, the broker points out.
For Berenberg, this is a "solid" performance that proves that Publicis is posting a recovery that goes well beyond a simple post-Covid rebound.
The share is currently down about 0.8%, just outperforming the index in Paris.
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.