UBS Maintains a 'Neutral' on Omnicom Group (OMC); Solid 4Q; Raising Estimates & PT

UBS maintains a 'Neutral' on Omnicom Group (NYSE: OMC) price target raised $2 to $48.

UBS analyst says, "OMC reported solid 4Q results, in our view, with organic of 5.3%, ahead of our 4.3%. EBITA of $511M also came in ahead (UBSe: $501M). Although cautious on ad growth in the UK/ Euro Zone, we are raising 1Q and ’12 organic to 4.0%/ 4.1% vs. our prior 3.5%/ 3.6%, and expect stronger ad growth to translate to EBITA upside. We are raising ‘12E EBITA to $1.92B (vs. prior $1.88B), which equates to a 13.4% margin (vs. prior 13.2%). Our 1Q/ 12E EPS is $0.67/ $3.63, vs. prior $0.65/ $3.57. We maintain our rating primarily on valuation."

"We are raising our ‘12E EBITA to $1.92B (prior $1.88B), which equals to a 13.4% margin, in line with guidance." (FY13 EPS estimate from $3.98 to $4.03)

For an analyst ratings summary and ratings history on Omnicom Group click here. For more ratings news on Omnicom Group click here.

Shares of Omnicom Group closed at $48.00 yesterday.

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