Exane BNP Paribas analyst Lina Ghayor upgraded WPP to Outperform from Neutral with a 1,300 GBp price target. The agency sub-sector is in the "quality" media basket and no longer in the "cheap cyclical" one, the analyst tells investors in a research note. The firm says WPP scores well on its headcount and advertisers’ outlook monitors. It says WPP is its top pick for the next 12 months.
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