Morgan Stanley analyst Laura Metayer resumed coverage of WPP with an Equal Weight rating and 715 GBp price target. Post COVID, WPP has grown at a slower rate than Publicis, the analyst tells investors in a research note. The firm says WPP’s relatively high exposure to technology companies’ advertising spend adds uncertainty on near-term growth.
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Read More on WPP:
- WPP price target lowered to 1,170 GBp from 1,200 GBp at JPMorgan
- WPP price target lowered to 1,050 GBp from 1,150 GBp at Barclays
- WPP price target lowered to 725 GBp from 800 GBp at Macquarie
- 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%
