Citi opened “90-day positive watches” on shares of both WPP and S4 Capital. Commentary on budget growth from Citi’s CMO survey is positive both for short- and medium-term growth of the European advertising agencies, the analyst tells investors in a research note. The firm says the survey signals that CMO priorities are shifting to longer-term, more growth-oriented priorities, “which we judge as helpful.”
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Read More on WPP:
- WPP price target raised to 800 GBp from 750 GBp at Macquarie
- WPP price target raised to 890 GBp from 850 GBp at JPMorgan
- WPP price target raised to 725 GBp from 700 GBp at UBS
- WPP price target raised to 800 GBp from 790 GBp at Morgan Stanley
- WPP sees FY24 LFL revenue less pass-through costs growth of 0-1%
