WPP: UBS still a buyer but cuts target price
(CercleFinance.com) - UBS maintains its "buy" rating on the WPP stock, although has cut its target price from 1520 pence to 1400 pence, even though this leaves upside potential of 33% for the British advertising giant.
"We cut EPS to factor in recent account losses (Ford etc) and potential restructuring costs. On <8x rebased EPS WPP is cheap but needs momentum to unlock value".
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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.
"We cut EPS to factor in recent account losses (Ford etc) and potential restructuring costs. On <8x rebased EPS WPP is cheap but needs momentum to unlock value".
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.