Macquarie raised the firm’s price target on WPP to 800 GBp from 750 GBp and keeps a Neutral rating on the shares. The firm raise estimates following the company’s investor day last week. Guidance for 2024 “re-emphasized near-term challenges,” but medium-term targets for revenue growth and margin expansion “look attainable,” the analyst tells investors.
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Read More on WPP:
- WPP price target raised to 890 GBp from 850 GBp at JPMorgan
- WPP price target raised to 725 GBp from 700 GBp at UBS
- WPP price target raised to 800 GBp from 790 GBp at Morgan Stanley
- WPP sees FY24 LFL revenue less pass-through costs growth of 0-1%
- WPP sees FY24 operating profit margin 14.8%, equivalent to 15.0%
