Jefferies Reiterates a 'Hold' on Omnicom Group (OMC); Slightly Raising PT & Estimates
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Price: $87.54 +0.54%
Rating Summary:
8 Buy, 19 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 19 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies reiterates a 'Hold' on Omnicom Group (NYSE: OMC) price target raised from $41 to $45.
Jefferies analsyt said, "We update our model to reflect FY’11 actuals and new guidance for 2012. We leave our forecasts largely unchanged with only a slight increase in sales and EBITA resulting from increased acquisition contribution. As previously, we expect management to hit guidance of ‘returning to 2007 margins by the end of 2012’. Given the sector rerating, we increase our price target to $45, we reiterate our rating as we see Omnicom better positioned to navigate a potential downturn given previous track record in 2009 and better operating expense flexibility."
(Jefferies raises FY13 revs from $14.784 bln to $15.038 bln)
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 $47.70 yesterday.
Jefferies analsyt said, "We update our model to reflect FY’11 actuals and new guidance for 2012. We leave our forecasts largely unchanged with only a slight increase in sales and EBITA resulting from increased acquisition contribution. As previously, we expect management to hit guidance of ‘returning to 2007 margins by the end of 2012’. Given the sector rerating, we increase our price target to $45, we reiterate our rating as we see Omnicom better positioned to navigate a potential downturn given previous track record in 2009 and better operating expense flexibility."
(Jefferies raises FY13 revs from $14.784 bln to $15.038 bln)
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 $47.70 yesterday.
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