WPP downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded WPP (WPP) to Equal Weight from Overweight with a price target of 780 GBp, down from 975 GBp. The firm still sees long-term value in the shares, but says WPP’s “momentum is sorely lacking” with the first half of 2025 expected to be negative and the 3% organic target unlikely to be achieved in 2026. Valuation without momentum rarely works in media stocks, the analyst tells investors in a research note.