Wells Fargo Starts Omnicom Group (OMC) at Market Perform; Capital Return Accelerating, but Expectations Running High

Wells Fargo initiates coverage on Omnicom Group (NYSE: OMC) with a Market Perform. Valuation range of $50-51.

Wells analyst says, "In our view, a premium collection of global agency assets and high expectations for capital returns support group-leading multiples that exceed the company's historical relationship with the S&P 500. Rolling off of the mega Chrysler loss should boost OMC's near-term growth; we expect longer-term growth to be in line with peers' as the company seeks additional emerging market exposure. We estimate $3.32 and $3.79 EPS in 2011 and 2012, repectively, against consensus estimates of $3.23 and $3.71."

For more ratings news on Omnicom Group click here and for the rating history of Omnicom Group click here.

Shares of Omnicom Group closed at $47.88 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Omnicom Group (OMC) on watch amid Ad Age article
• Lake Street Starts CTS Corp (CTS) at Buy
• Canaccord Starts BillionToOne Inc (BLLN) at Buy