UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Raises PT on Omnicom Group
In a report published Monday, Morgan Stanley reiterated its Equal-Weight rating on Omnicom Group (NYSE: OMC), and raised its price target from $52.00 to $55.00.
Morgan Stanley noted, “We believe OMC offers upside in line with the Media group as the benefits of stable EPS growth and exposure to attractive emerging markets could be offset by less operating leverage (and therefore, margin expansion) relative to our coverage universe. We continue to see Omnicom as a leader within Media with respect to return of capital to shareholders through both a growing dividend and continued share repurchases (~$1b pa in base case).”
Omnicom Group closed on Friday at $52.49.
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