Omnicom: Barclays raises target price

(CercleFinance.com) - Barclays reaffirms its 'overweight' recommendation on Omnicom Group shares, with a target price raised from $110 to $121, following better Q3 results and an 'extremely confident' tone from management for both the current quarter and 2025.


We would say that Omnicom is too cheap (with P/Es of 13/12 times for 2024/25) for the growth on offer (around 10% for EPS), and that execution has improved in 2023 and 2024, the broker adds in its note on the communications group.


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