Wells Fargo Keeps a Hold Rating on Omnicom Group


In a report released today, Peter Stabler from Wells Fargo maintained a Hold rating on Omnicom Group (NYSE: OMC), with a price target of $75. The company’s shares opened today at $70.69.

Stabler observed:

“We lower 3Q 10bps to 2.6%; FY’18 organic revised to 2.5% from 2.7%. We also take a modestly more conservative stance regarding FY’19, lowering our organic growth to 2.6% from 3.2%. Summing impact of revisions, our EPS estimates adjust to $5.64 and $5.81, from $5.63 and $6.07, respectively. On lowered FY’19 ests, we lower our target price to $75 from $80, while maintaining our Market Perform rating.”

According to TipRanks.com, Stabler is a 5-star analyst with an average return of 32.3% and a 81.4% success rate. Stabler covers the Technology sector, focusing on stocks such as ANGI Homeservices Inc, IAC/InterActiveCorp, and Match Group Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Omnicom Group with a $75 average price target, which is a 6.1% upside from current levels. In a report released today, Pivotal Research also reiterated a Hold rating on the stock with a $68 price target.

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Based on Omnicom Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $264 million. In comparison, last year the company had a net profit of $328 million.

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock.

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Omnicom Group, Inc. is a holding company, which engages in the management and provision of advertising agencies. It offers marketing and corporate communications services. The company was founded in 1986 and is headquartered in New York, NY.

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