Macquarie analyst Tim Nollen lowered the firm’s price target on WPP to 725 GBp from 800 GBp and keeps a Neutral rating on the shares. The analyst reduced estimates post the Q3 report but says more cost cuts and internal consolidations could help 2024 margins.
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Read More on WPP:
- Hill + Knowlton forms new unit, partners with Pendulum Intelligence
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- WPP Shanghai offices raided, employees arrested, Bloomberg says
- WPP price target lowered to 800 GBp from 850 GBp at Macquarie