Barclays analyst Julien Roch upgraded Interpublic Group (IPG) to Overweight from Equal Weight with a price target of $36, up from $32. The acquisition by Omnicom (OMC) is likely to go through and Interpublic’s valuation implies decent upside to the implied merger price, the analyst tells investors in a research note. The firm believes the the market is “too harsh” on the acquisition prospect and worries about revenue dis-synergies are overdone.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IPG:
- Interpublic Group upgraded to Outperform from Neutral at Barclays
- Roth MKM Internet/capital markets analyst holds analyst/industry conference call
- Interpublic Group upgraded to Outperform from Underperform at Exane BNP Paribas
- Interpublic wins Volvo’s $500M media account, replacing WPP, AdWeek says
- Macquarie says Omnicom, Interpublic deal to prompt more acquisition activity