WPP price target lowered to 725 GBp from 775 GBp at Macquarie

Macquarie analyst Tim Nollen lowered the firm’s price target on WPP to 725 GBp from 775 GBp and keeps a Neutral rating on the shares. The company’s Q2 revenue and first half earnings showed slow sequential progress, but a few specific macro issues prompted a modest guidance reduction, the analyst tells investors in a research note.