Pivotal Research Upgrades Omnicom Group (OMC) to Buy
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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: 6 | New: 26
Rating Summary:
8 Buy, 19 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Pivotal Research upgraded Omnicom Group (NYSE: OMC) from Hold to Buy with a price target of $56.00.
The firm comments, "Changes in our recommendation are primarily due to the widening gap between our more recently established 2013 price target of $56 and current trading levels. Absence of "drama" or need for operating improvements have long been favorable attributes for Omnicom, and should contribute towards an eventual resumption of positive investor sentiment towards the stock. Organic growth of 3.3% during 2013 should also prove favorable, as it exceeds our expectations vs. Omnicom’s peers WPP (+2.7%) and IPG (+1.3%) Additional commentary associated with our revised view on the company is contained within the body of our note."
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 $47.80 yesterday.
The firm comments, "Changes in our recommendation are primarily due to the widening gap between our more recently established 2013 price target of $56 and current trading levels. Absence of "drama" or need for operating improvements have long been favorable attributes for Omnicom, and should contribute towards an eventual resumption of positive investor sentiment towards the stock. Organic growth of 3.3% during 2013 should also prove favorable, as it exceeds our expectations vs. Omnicom’s peers WPP (+2.7%) and IPG (+1.3%) Additional commentary associated with our revised view on the company is contained within the body of our note."
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 $47.80 yesterday.
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