Omnicom upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley analyst Benjamin Swinburne upgraded Omnicom to Equal Weight from Underweight with a price target of $95, up from $85. The firm sees "a fairly balanced risk/reward" and has raised its estimates following "another strong quarter and better-than-expected outlook." The results and guidance suggest that both the macro and the micro headwinds that underpinned the prior Underweight thesis are no longer the base case, the analyst tells investors.