Publicis: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse maintains its "neutral" recommendation on Publicis shares, although has increased its corresponding target price to 54 euros (vs.
50.5 euros).
The broker is betting on an improvement in the advertising market, driven by the recovery in economic growth in the United States.
With the lion's share (nearly 62%) of its revenue generated in North America, Credit Suisse expects that Publicis will benefit from this acceleration.
The broker however, expects a blip in Publicis' organic growth in Q1 (-0.8%, albeit with +2% growth in the US), which is still better than the consensus of -2.4%.
The share is down almost 1% in mid-morning trading on Wednesday.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
50.5 euros).
The broker is betting on an improvement in the advertising market, driven by the recovery in economic growth in the United States.
With the lion's share (nearly 62%) of its revenue generated in North America, Credit Suisse expects that Publicis will benefit from this acceleration.
The broker however, expects a blip in Publicis' organic growth in Q1 (-0.8%, albeit with +2% growth in the US), which is still better than the consensus of -2.4%.
The share is down almost 1% in mid-morning trading on Wednesday.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.