(News Bulletin 247) – Deutsche Bank announced on Tuesday that it had downgraded its recommendation on WPP to ‘hold’ versus ‘buy’ so far, with a price target reduced accordingly from 1,230 to 1,030 pence.
In a research note, analysts explain preferring to stay away from the title after half-year results worse than expected and the downward revision of its annual objectives.
A disappointment that the design office attributes to a slowdown in spending by technology customers in the United States and, more generally, to postponements of projects in high technologies.
According to analysts at the German bank, it will take time for the company to regain market confidence given the lack of visibility surrounding the appearance of possible catalysts, which leads them to rule out any revaluation of the stock over the past few months. next 12 months.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
