Omnicom price target lowered to $85 from $88 at Wells Fargo

Wells Fargo analyst Steven Cahall lowered the firm’s price target on Omnicom to $85 from $88 and keeps an Equal Weight rating on the shares. The company posted in-line Q3 results, but visibility remains limited, including its Q4 projects, the analyst tells investors in a research note. Wells Fargo adds that reading Omnicom’s results “between the lines”, it sees industry pressures that are curtailing more compelling organic and earnings growth.