Publicis: UBS maintains buy rating after acquisition
(CercleFinance.com) - UBS has reiterated its "buy" rating on the Publicis stock, along with its target price of 67 euros, meaning upside potential of 42%, following the media group's announcements of Q1 sales and the acquisition of Epsilon.
The broker says that "PUB has acquired Epsilon for $3.95bn or 8.2x FY18 EBITDA. The deal has strategic logic but is not without risks despite EPS accretion +12.5% in yr1".
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