UPDATE: Jefferies & Company Reiterates Underperform Rating, Lowers PT on Interpublic Group of Companies
In a report published Friday, Jefferies & Company reiterated its Underperform rating on Interpublic Group of Companies (NYSE: IPG), but lowered its price target from $10.00 to $8.50.
Jefferies noted, “We lower our forecasts and price target following a disappointing Q3 where full year organic growth guidance was lowered from +3.0% to +1.0%. We also see risks to margin expansion guidance of +50bps and remain below at +20bps. We continue to see challenges for the group as they navigate account losses and reiterate our Underperform.”
Interpublic Group of Companies closed on Thursday at $9.54.
Latest Ratings for IPG
|Feb 2016||Pivotal Research||Upgrades||Hold||Buy|
|Dec 2015||Morgan Stanley||Upgrades||Equal-weight||Overweight|
|Sep 2015||FBR Capital||Upgrades||Market Perform||Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.