Wells Fargo analyst Steven Cahall raised the firm’s price target on Interpublic Group to $43 from $36 and keeps an Overweight rating on the shares after its Q4 earnings beat. The company faces some short-term headwinds and growth slowed in Q4, but advertising agency growth should reverts to the mean, so weaker periods tends to be "good entry points", the analyst tells investors in a research note. The firm adds that its views agencies as structurally sound with low operating leverage and strong cash deployment.
Published first on TheFly
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