(News Bulletin 247) – UBS reiterates its advice to buy on the stock with a target of 82 E and believes that the group achieved ‘another good result in the 1st quarter of 2023’.
‘Q123 organic growth largely exceeded expectations with +7.1% against +4.5% for the consensus. Publicis raised its guidance to the upper half of the 3-5% range for FY23, the analysts said.
The group also reiterates its objectives for an operating margin rate of 17.5 to 18% and FCF before change in WCR of approximately 1.6 billion euros.
Recall that Publicis announced net income of 3.08 billion euros for the 1st quarter of 2023, up 10% on a reported basis, including positive currency and scope effects, as well as organic growth of 7, 1%.
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