WPP: UBS maintains buy rating; cuts target
(CercleFinance.com) - UBS has reinstated its "buy" recommendation on the WPP share, while trimming its corresponding target price from 1,175 pence to 1,150 pence, which suggests upside potential of 35% for the British media giant's share.
In the run-up to the group's FY 2018 results, the broker says that that it is reducing its EPS estimates for 2019 to 2021 by approximately 3%, to take into account recent currency fluctuations.
In its research note, however, the broker maintains its "buy" rating on the WPP stock, pointing to a P/E of 9x, while acknowledging that a turnaround will take time.
Copyright (c) 2019 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.
In the run-up to the group's FY 2018 results, the broker says that that it is reducing its EPS estimates for 2019 to 2021 by approximately 3%, to take into account recent currency fluctuations.
In its research note, however, the broker maintains its "buy" rating on the WPP stock, pointing to a P/E of 9x, while acknowledging that a turnaround will take time.
Copyright (c) 2019 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.