WPP: still falling; analyst maintains sell rating
(CercleFinance.com) - The WPP share continued to fall on the London Stock Exchange on Friday (-1%), after tumbling 8% on Thursday.
Invest Securities has repeated its "sell" rating on the stock, trimming its price target from 10.8 pounds to 10.5 pounds, after the group's publication of disappointing 2017 results, with both a gross margin and EBITA falling short of the consensus.
The broker pointed out that it is particularly the group's flat 2018 budget and no growth in its gross margin and a flat operating margin that has weighed on the share, which, in addition, its conference failed to clarify "whether the trends were cyclical or structural".
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Invest Securities has repeated its "sell" rating on the stock, trimming its price target from 10.8 pounds to 10.5 pounds, after the group's publication of disappointing 2017 results, with both a gross margin and EBITA falling short of the consensus.
The broker pointed out that it is particularly the group's flat 2018 budget and no growth in its gross margin and a flat operating margin that has weighed on the share, which, in addition, its conference failed to clarify "whether the trends were cyclical or structural".
Copyright (c) 2018 CercleFinance.com. All rights reserved.