Publicis: BofA raises its target, maintains the purchase

( – Bank of America maintained its buy recommendation on Publicis on Friday, with a price target raised from 82 to 87 euros, believing that the French communications group had finally regained its ‘mojo’.

In a research note, the research department indicates that it has revised its earnings forecasts for the company for the 2023/2025 period upwards by between 2% and 4% following the publication of its 2022 annual results.

“The publication has reinforced our view that organic growth is back at Publicis, even better than the economy as a whole, which justifies a revaluation movement”, he underlines.

BofA also says it welcomes the outlook for the 2023 financial year, which it believes is likely to justify upward revisions to analyst forecasts.

The professional, who points out that the title only trades on a PER of 11x, makes the action his preferred value (‘key pick’) within the sector.

Copyright © 2023 All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.

Did you like this article ? Share it with your friends with the buttons below.





Source link -85