Omnicom: Credit Suisse reduces target price.
(CercleFinance.com) - Credit Suisse has reduced its target price for marketing communications company Omnicom, from 81 dollars to 79 dollars, ahead of the group's Q2 results.
The brokerage firm has also reduced its forecasts on the group, citing recent disposal activities.
"We believe Omnicom's CRM agencies (27% of revenues in 2017 post-disposals) could continue to drag on Omnicom's top line growth in H2 and 2018," said Credit Suisse in a report on Friday.
While the broker thinks Omnicom faces specific challenges in CRM, it maintained its "neutral" stance on the stock, regarding the stock's risk/reward ratio as "balanced" at its current level.
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The brokerage firm has also reduced its forecasts on the group, citing recent disposal activities.
"We believe Omnicom's CRM agencies (27% of revenues in 2017 post-disposals) could continue to drag on Omnicom's top line growth in H2 and 2018," said Credit Suisse in a report on Friday.
While the broker thinks Omnicom faces specific challenges in CRM, it maintained its "neutral" stance on the stock, regarding the stock's risk/reward ratio as "balanced" at its current level.
Copyright (c) 2017 CercleFinance.com. All rights reserved.