UPDATE: Pivotal Research Group Upgrades Omnicom Group to Buy, Reiterates $56 PT

In a report published Wednesday, Pivotal Research Group upgraded its rating on Omnicom Group OMC from Hold to Buy, and reiterated its $56.00 price target. Pivotal Research noted, “We our upgrading our recommendation on Omnicom from to BUY from HOLD. We initiated coverage on the company this January, at which time OMC traded at $46.74, with a HOLD rating. Since our initiation, OMC stock has risen by 2%, vs. the S&P, which was up by 7% since that time.” Omnicom Group closed on Tuesday at $47.80.