UBS initiated coverage of Interpublic Group with a Neutral rating and $36 price target. The firm expects Interpublic to grow close to the sector average, and therefore could see a re-rate alongside the sector in the medium term. However, UBS does not expect this to happen in 2024, the analyst tells investors in a research note. The firm only expects IPG to deliver 2.3% organic growth in 2024 versus the consensus of 2.9%.
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