Goldman Sachs analyst Brett Feldman initiated coverage of Stagwell with a Buy rating and $12 price target, which implies 60% upside. Stagwell looks well positioned to benefit from long-term secular growth in global digital advertising and marketing spend, which Goldman expect to outpace total advertising spend as companies continue to shift budgets towards digital mediums, the analyst tells investors in a research note. The firm says the company’s “strong” balance sheet and cash flow provide strategic and financial flexibility.
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