Omnicom price target raised to $89 from $87 at BofA

BofA analyst Adrien de Saint Hilaire raised the firm’s price target on Omnicom (OMC) to $89 from $87 and keeps an Underperform rating on the shares after the Amazon (AMZN) media review that concluded yesterday resulted in Interpublic (IPG) losing the bulk of its duties, with Omnicom winning Americas and WPP (WPP) taking over Europe and APAC. In isolation, the news prompts the firm to cut its 2025 EPS view by 3% on Interpublic, leave its WPP forecasts unchanged as the Amazon win offsets other recent losses, and raise 2025 EPS forecasts by 1% at Omnicom, though the firm adds that the scope of the win was smaller than expected for Omnicom.