WPP: Deutsche Bank lowers target price

(CercleFinance.com) - Deutsche Bank on Monday lowered its target price for WPP shares from 990 pence to 950 pence, while renewing its buy recommendation on them.


According to the analyst, H1 results primarily focused on the continued integration of agencies, the implementation of efficiency measures and the development of AI platforms, but also showed that the WPP Group was underperforming its competitors in terms of organic growth and new business wins.

It believes that the economic situation - which is prompting customers to postpone their projects - and the situation in China should continue to weigh on its business in H2.

But the broker also says it sees some encouraging signs in the medium term, given the need for companies to make technological investments and deploy applications dedicated to AI.


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