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UPDATE: Deutsche Bank Downgrades Omnicom Group to Hold, Lowers PT

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Benzinga's Top Upgrades, Downgrades For April 18, 2017
Earnings Scheduled For April 18, 2017

In a report published Monday, Deutsche Bank downgraded its rating on Omnicom Group (NYSE: OMC) from Buy to Hold, and lowered its price target from $58.00 to $52.00.

Deutsche Bank noted, “We are lowering Omnicom from a Buy to a Hold and trimming our target to $52. While Omnicom remains on track for its 2012 goals and is not expensive relative to the S&P 500, we would rather be on the sidelines going into 2013 given our subdued sector revenue outlook, limited prospects for operating leverage, and absence of positive catalysts. We do not see Omnicom moving back to its historical premium valuation until ad market conditions improve, and prefer Interpublic (Buy, $14.50 TP) and MDC Partners (Buy, $16 TP) among the US agencies, and Havas (Buy, E5.0 TP, covered by Patrick Kirby) in Europe.”

Omnicom Group closed on Friday at $49.82.

Latest Ratings for OMC

DateFirmActionFromTo
Apr 2017Evercore ISI GroupInitiates Coverage OnIn-Line
Mar 2017RBC CapitalUpgradesSector PerformOutperform
Mar 2017Bank of AmericaInitiates Coverage OnNeutral

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Posted-In: Deutsche BankAnalyst Color Downgrades Analyst Ratings

 

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