Publicis: Oddo BHF confirms its recommendation on the stock

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Publicis shares, with an unchanged target price of 102 euros.


With regard to organic growth, we are expecting +5.7% in Q4, i.e. stabilization vs. Q3 at +5.8%", reports the analyst, who points out that Publicis will continue to outperform its peers in terms of sales revenue.

We are expecting a stable operating margin of 18% for the year. Annual organic growth will be offset by investments in AI and ongoing restructuring costs", adds the broker.

Oddo BHF expects organic growth of +4% in 2025 (consensus +4.45%).

In our opinion, the most likely scenario is for the Group to provide a range for 2024, as it did on the occasion of its 2023 results. A range between +4 and +5% seems possible to us. Our expectations would then be at the lower end of the range," he concludes.

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