UPDATE: Pivotal Research Group Initiates Coverage on Nielsen Holding with Hold Rating, $31 PT

In a report published Wednesday, Pivotal Research Group initiated coverage on Nielsen Holding

with a Hold rating and $31.00 price target. Pivotal Research noted, “We initiate coverage on Nielsen with a year-end 2013 price target of $31 and a HOLD rating. While we have a favorable view on the company itself, our price target on the stock reflects only a modest premium to current trading levels. Durable revenue growth profile and low-risk business model are positive attributes, but we believe that equity investors will continue to place a cost of equity on the company which is comparable to levels observed at the leading advertising agency holding companies, Omnicom and WPP, thus constraining equity appreciation.” Nielsen Holding closed on Tuesday at $28.06.