Deutsche Bank Boosts Price Target on Omnicom (OMC) to $51

Deutsche Bank raised its price target on Buy-rated Omnicom Group (NYSE: OMC) from $50 to $51.

The firm comments, "Against the backdrop of reassuring brandowner commentary on A&P, and a reasonably benign global macro, the scope for stockmarket advertising sentiment to improve further from here may be limited for now. There remains a risk that agency revenue momentum globally tails off in the 2nd half. So, with agency stocks already having performed well, we are looking for indications from
these results that Q2 trading can continue to surprise positively, thereby reducing earnings risk for 2012 overall. We are also looking for early reassurance on willingness to curb flexible costs to protect earnings and margins for 2013, assuming next year is a slower year."

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 $48.42 yesterday.

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