Omnicom reinstated with an Overweight at JPMorgan

JPMorgan analyst David Karnovsky reinstated coverage of Omnicom with an Overweight rating and price target of $106, up from $100, following a period of restriction. Omnicom is the firm’s preferred pick in the agency space. Amid a volatile period the company has posted steady organic growth, underpinned by advertising and media where management has consistently called out strength in media, the analyst tells investors in a research note.