Publicis: Barclays raises target price

(CercleFinance.com) - Barclays has reaffirmed its 'overweight' recommendation on Publicis Groupe, with a price target raised from 107 to 115 euros, considering the French company to be the quality dossier among communications agencies, the day after its trading update.


"Publicis' delivery has been rock solid, in our view justifying their P/E almost doubling in the past four years", the broker summarises.

Barclays points to organic growth in Q1 that was 80bp better at 5.3%, reassuring forecasts of 4%-5% for Q2, along with management that seems very confident in its target range of 4%-5% for 2024.


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