Publicis: Invest Securities welcomes 'a proactive strategy'
(CercleFinance.com) - In turn, Invest Securities welcomes Publicis' quarterly sales, which Paris Stock Exchange hailed yesterday, with the share price rising by over 7%.
Maintaining their buy rating on the stock, analysts have also confirmed their target price of 63.8 euros.
At 1.6% in the first quarter, the French advertising group's organic growth significantly exceeded the consensus' expectations (+0.7%), confirming forecasts formulated earlier.
The group's proactive strategy, which it has followed for more than three years now, has put Publicis in a good position to meet new demands from advertisers, while WPP has fallen behind in its transformation, which explains why Martin Sorrell is leaving. The Parisian broker also says that as a result, both groups' stockmarket performances should therefore gradually become decorrelated from each other.
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