Exane BNP Paribas downgraded Interpublic Group to Underperform from Neutral. Advertising agencies continue to trade at a material discount to the market and media sector, the analyst tells investors in a research note. However, the firm prefers Publicis and Omnicom to Interpublic Group, saying they are in a better position to face any potential economic slowdown. Exane sees weak business win momentum at specialist agencies like Interpublic Group.
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