Macquarie analyst Tim Nollen lowered the firm’s price target on Interpublic Group to $31 from $33 and keeps a Neutral rating on the shares following the Q2 report. Management reduced the top end of the 2024 guidance range from 1%-2% to now “approximately 1%” after already hinting at this last quarter, highlighting some increased macro uncertainties during 2Q2, including geopolitical risk and U.S. fiscal policy in standstill, the analyst tells investors in a research note. The firm cites uncertainties for the target drop.
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