Credit Suisse Starts Omnicom Group (OMC) at Neutral
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Credit Suisse initiates coverage on Omnicom Group (NYSE: OMC) with a Neutral rating and a price target of $83.00.
Analyst Omar Sheikh commented, "We think the company can grow revenues by 3.5% pa and EPS by 9% pa in 2015-2020, driven by growth in its core advertising agencies, where recent new business wings highlight OMC's creative and digital capabilities. However, after a substantial re-rating vs. IPG over the past nine months, we see valuation as fair and see more upside in IPG from current levels."
Shares of Omnicom Group closed at $83.56 yesterday.
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