Publicis upgraded to Outperform from Neutral at Macquarie

Macquarie analyst Tim Nollen upgraded Publicis to Outperform from Neutral with a price target of EUR 94, up from EUR 80. The company has delivered “best-in-class” results in the past several quarters and has established a strong retail media franchise that will continue to generate solid growth, the analyst tells investors in a research note. The firm says that while the advertising market still faces mixed prospects, it is taking a “glass-half-full view.”