UBS upgrades Interpublic Group to Neutral on high odds of Omnicom deal closing

As previously reported, UBS upgraded Interpublic Group (IPG) to Neutral from Sell with a price target of $27, down from $29, citing the firm’s view of the “high probability” that the company’s agreed upon merger with Omnicom (OMC) will be completed. With Omnicom shares trading near $80, the firm is confident that the proposed tie-up would create value for both, the analyst tells investors.