Omnicom price target raised to $108 from $104 at JPMorgan

JPMorgan raised the firm’s price target on Omnicom to $108 from $104 and keeps an Overweight rating on the shares. The company reported solid Q1 results, the analyst tells investors in a research note. The firm raised its organic growth and operating profit estimates for 2024, while increasing net interest expense. It says Omnicom’s report creates a solid start for agency earnings, and is supportive of its positive view for the sector broadly.