Nomura Securities Upgrades Interpublic Group (IPG) to Buy
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Price: $14.68 -0.2%
Rating Summary:
10 Buy, 3 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
10 Buy, 3 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade IPG Now!
Nomura Securities upgraded Interpublic Group (NYSE: IPG) from Neutral to Buy with a price target of $13.00.
"IPG’s relative multiple to both the S&P 500 and peer Omnicom has collapsed to trough levels not seen since the early 2009 recession. If IPG returned to its median level of premium to the market, this would represent a share price of nearly $15, or 45% upside," said analyst Robert Fishman.
“While we are taking 2012E EPS down $0.03 to $0.80 (in-line with consensus) and CY13E EPS down from $0.99 to $0.94 ($0.04 below consensus), we think further negative EPS downside is protected,” he added.
For an analyst ratings summary and ratings history on Interpublic Group click here. For more ratings news on Interpublic Group click here.
Shares of Interpublic Group closed at $10.36 yesterday, with a 52 week range of $6.73-$12.17.
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"IPG’s relative multiple to both the S&P 500 and peer Omnicom has collapsed to trough levels not seen since the early 2009 recession. If IPG returned to its median level of premium to the market, this would represent a share price of nearly $15, or 45% upside," said analyst Robert Fishman.
“While we are taking 2012E EPS down $0.03 to $0.80 (in-line with consensus) and CY13E EPS down from $0.99 to $0.94 ($0.04 below consensus), we think further negative EPS downside is protected,” he added.
For an analyst ratings summary and ratings history on Interpublic Group click here. For more ratings news on Interpublic Group click here.
Shares of Interpublic Group closed at $10.36 yesterday, with a 52 week range of $6.73-$12.17.
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