Omnicom: UBS still a buyer, trims TP
(CercleFinance.com) - UBS confirms its 'buy' recommendation on Omnicom Group shares, while lowering its target price for them from $124 to $120, leaving 40% upside potential for the US communications group's stock.
The broker believes that the risks associated with the merger with its peer Interpublic are now factored into the share price, and forecasts a TSR (total shareholder return) of 16% per year on average over two years, based on conservative assumptions.
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