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
- WPP lowers FY23 LFL adj. revenue growth to 0.5% -1.0% from up 1.5%-3%
- WPP reports Q3 revenue GBP 2.84B vs GBP 3B last year
- WPP Shanghai offices raided, employees arrested, Bloomberg says
- WPP price target lowered to 800 GBp from 850 GBp at Macquarie