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Publicis: Credit Suisse upgrades stock

( - On Wednesday Credit Suisse upgraded Publicis shares from "neutral" to "outperform" with a new target price of 87 euros.

In a sector report, the broker considers that the unfavourable factors that were previously weighing on the stockmarket performance of advertising agencies have "significantly diminished".

As such, the analyst says that he has raised his long-term organic growth forecast for Publicis, now expecting around 4%, which leads him to see upside potential for the share.

Credit Suisse has also upgraded its view on WPP from "neutral" to "outperform" with a new target price of 1,260p.

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