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UPDATE: Jefferies Upgrades Interpublic Group of Companies on Mixed Factors

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In a report published Wednesday, Jefferies analyst David Reynolds upgraded the rating on Interpublic Group of Companies (NYSE: IPG) from Underperform to Hold, and raised the price target from $11.00 to $17.20.

In the report, Jefferies noted, “There's a lot to be said for IPG, robust earnings growth profile, plays well into a 'growth' ad spend market and perhaps it remains the key beneficiary of all things POG. Yet, issues around North American profitability and developing economy scale continue to weigh. Richly valued and thus only c.2% upside to the 'old normal' and demonstrably bullish 16.7x forward earnings, we think warrants a HOLD. We set our new PT at US$17.20, 16.7x FY14 earnings.”

Interpublic Group of Companies closed on Tuesday at $16.92.

Latest Ratings for IPG

DateFirmActionFromTo
Sep 2019Initiates Coverage OnMarket Perform
Jul 2019MaintainsOutperform
Jan 2019DowngradesOutperformSector Perform

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View the Latest Analyst Ratings

Posted-In: David Reynolds JefferiesAnalyst Color Upgrades Analyst Ratings

 

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