UPDATE: Deutsche Bank Cuts PT to $51 on Omnicom Group Post FX Headwinds
Deutsche Bank reiterates its Buy rating on Omnicom Group (NYSE: OMC) and lowers its price target from $53 to $51
Deutsche Bank comments, "US-based ad agencies offer attractive exposure in current environment. We believe that investors should buy shares of the US-based ad agencies despite the incremental headwinds from recent USD strength. While headline EPS for Omnicom and IPG come down due to FX, both companies are relatively insulated from possible weakness in Europe because of US ad market growth."
OMC closed at $48.06 on Friday.
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