Wells Fargo raised the firm’s price target on Interpublic Group to $32 from $31 but keeps an Equal Weight rating on the shares after its Q4 earnings beat. The company is growing below peers and faces additional risk from announced account reviews, the analyst tells investors in a research note. The management is also not assuming a recovery by the digital specialty agencies that dragged growth in FY23, and is not penciling a return to growth from the Tech/Telco sector, the firm added.
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