Pivotal Research Cuts PT and Estimates on WPP plc (WPPGY) After Reduced Growth Expectations

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Pivotal Research maintains a 'Buy' on WPP plc (NASDAQ: WPPGY) price target of $77.00 (from $81.00).

Analyst, Brian Wieser, said, "Reduced growth expectations lead us to revise our previously overly-optimistic forecasts with new $77 price target. The underlying story is still solid...We continue to rate WPP a BUY, and our top pick among agency holding companies. Agencies remain primary beneficiaries of globalization and digital media, and WPP retains dominance in its exposure to fast-growing markets, media services and related advertising technologies."

For an analyst ratings summary and ratings history on WPP plc click here. For more ratings news on WPP plc click here.

Shares of WPP plc closed at $66.07 yesterday, with a 52 week range of $43.98-$70.30.

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