(CercleFinance.com) – In a note on Publicis and its British peer WPP, Oddo BHF reiterates its ‘neutral’ opinion on the stock of the French communication group with a price target reduced from 68 to 66 euros and a downward revision of its 2022-23 EBIT streak of 3%.
The consultancy reduced its expectations for 2023 results for the two groups under the effect of the dollar, but showed a preference for WPP, estimating that the latter ‘should resist better in 2023 both organically and on the margin’.
“For both groups, the question remains whether they could activate share buyback plans that would limit the decline in EPS next year,” continues the analyst, who does not, however, expect an advertising recession in 2023. .
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