Interpublic: shares fall after broker's downgrade.
(CercleFinance.com) - Shares of Interpublic are currently down 2.
5% at uner 20 dollars in early trading on Wednesday, after Jefferies downgraded its rating on the US advertising company.
"We believe the large US based ad agencies will continue to see sub-trend North America organic growth in 2018 driven by a combination of competition, fee pressure, end market issues (consumer packaged goods/retail/telecom) and work moving in-house, all impacting growth," the brokerage firm said.
Expecting margin growth to slow at this point, Jefferies has cut its target price on the stock from 24 dollars to 20 dollars, downgrading its corresponding recommendation from "buy" to "hold."
Copyright (c) 2017 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.
5% at uner 20 dollars in early trading on Wednesday, after Jefferies downgraded its rating on the US advertising company.
"We believe the large US based ad agencies will continue to see sub-trend North America organic growth in 2018 driven by a combination of competition, fee pressure, end market issues (consumer packaged goods/retail/telecom) and work moving in-house, all impacting growth," the brokerage firm said.
Expecting margin growth to slow at this point, Jefferies has cut its target price on the stock from 24 dollars to 20 dollars, downgrading its corresponding recommendation from "buy" to "hold."
Copyright (c) 2017 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.