(News Bulletin 247) – Credit Suisse announced on Wednesday that it has raised its opinion on the Publicis stock, which it has raised from ‘neutral’ to ‘outperformance’ with a new target price of 87 euros.
In a sector note, the financial intermediary considers that the unfavorable factors which had weighed so far on the stock market performance of advertising agencies have “significantly diminished”.
In this context, the analyst says he has raised his long-term organic growth forecast for Publicis, which he now envisages around 4%, which leads him to see a potential for revaluation on the action.
Credit Suisse also raised its opinion on WPP, which also goes from ‘neutral’ to ‘outperforming’ with a new target of 1260 pence.
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