Barclays upgrades Interpublic Group, sees Omnicom deal going through

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.