Nomura Securities Maintains a 'Buy' on WPP plc (WPPGY); Q2 Miss
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Price: $84.43 --0%
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on WPP plc (NASDAQ: WPPGY).
Analyst, Matthew Walker, said, "2Q miss from slower North America and Europe. WPP’s reported 2012 interim results were slightly below our expectations. Organic growth at 3.2% was below our 4.1% forecast in 1Q. The weakness was driven by a slowdown in North America at -0.6% vs our 1.8% and Western Continental Europe at 0.8% vs our 2.1%, while UK at 3.5% vs our 2.9% and RoW at 9.8% vs our 9.1% were ahead of expectations. Weakness in North America appears to be driven by PR, Healthcare and Consumer Insight. WPP July growth was over 3% with USA and Asia Pacific below 2Q while rest ahead, and cumulative growth YTD is at 3.5%. The company expects continuation of similar growth for the rest year and has revised guidance for revenue organic growth to 3.5% vs 4% previously."
For an analyst ratings summary and ratings history on WPP plc click here. For more ratings news on WPP plc click here.
Shares of WPP plc closed at $66.07 yesterday.
Analyst, Matthew Walker, said, "2Q miss from slower North America and Europe. WPP’s reported 2012 interim results were slightly below our expectations. Organic growth at 3.2% was below our 4.1% forecast in 1Q. The weakness was driven by a slowdown in North America at -0.6% vs our 1.8% and Western Continental Europe at 0.8% vs our 2.1%, while UK at 3.5% vs our 2.9% and RoW at 9.8% vs our 9.1% were ahead of expectations. Weakness in North America appears to be driven by PR, Healthcare and Consumer Insight. WPP July growth was over 3% with USA and Asia Pacific below 2Q while rest ahead, and cumulative growth YTD is at 3.5%. The company expects continuation of similar growth for the rest year and has revised guidance for revenue organic growth to 3.5% vs 4% previously."
For an analyst ratings summary and ratings history on WPP plc click here. For more ratings news on WPP plc click here.
Shares of WPP plc closed at $66.07 yesterday.
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