WPP: UBS remains a buyer before results
(CercleFinance.com) - UBS reiterates its "buy" recommendation on WPP, along with its target price of 1660 pence, meaning upside potential of 30% for the stock, before the communications giant publishes its Q2 results (scheduled for 4 September).
“CEO update and organic growth inflection to be the key focus points at Q2 18 results,” said the broker, which is updating its forecasts for the British advertising giant.
UBS has therefore raised its EPS estimates by 3%-4%, due to the weakness of the pound sterling. It expects an inflection in organic growth - from -0.1% in Q1 to +1% in Q2 - with its operating margin flat in the first half.
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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.
“CEO update and organic growth inflection to be the key focus points at Q2 18 results,” said the broker, which is updating its forecasts for the British advertising giant.
UBS has therefore raised its EPS estimates by 3%-4%, due to the weakness of the pound sterling. It expects an inflection in organic growth - from -0.1% in Q1 to +1% in Q2 - with its operating margin flat in the first half.
Copyright (c) 2018 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.