Interpublic Group price target raised to $33 from $32 at Macquarie

Macquarie raised the firm’s price target on Interpublic Group to $33 from $32 and keeps a Neutral rating on the shares after its Q1 earnings beat. It was good to see organic revenue growth in line with expectations at 1.3%, while the company’s management also spoke to some improved market sentiment amon gst advertisers as well as underlying stability in tech/telco sector spending, the analyst tells investors in a research note. Interpublic’s cash flows also improved, with seasonal Q1 working capital outflows more moderate than usual, the firm added.