WPP: Credit Suisse resumes coverage with 'underperform'
(CercleFinance.com) - Credit Suisse has reinstated its coverage of the WPP share with an "underperform" rating, saying that the British ad company is facing "rising competition".
In a research note, the broker said that recent analysis of the marketing industry suggests that clients are shifting spend more rapidly to digital transformation at a time when agencies still generate at least 70% of their revenues from traditional services.
Credit Suisse has set a target price of 565 pence for the stock.
WPP shares were down 3.9% in London after these comments.
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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.
In a research note, the broker said that recent analysis of the marketing industry suggests that clients are shifting spend more rapidly to digital transformation at a time when agencies still generate at least 70% of their revenues from traditional services.
Credit Suisse has set a target price of 565 pence for the stock.
WPP shares were down 3.9% in London after these comments.
Copyright (c) 2020 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.