(CercleFinance.com) – WPP shares traded higher on Friday on the London Stock Exchange, driven by a note from Deutsche Bank, which said it expects an improvement in the communications group’s activity this year.
At 1:15 p.m., the stock advanced by more than 1%, outperforming the FTSE 100 index which gained around 0.7% at the same time.
In a note, Deutsche Bank estimates that the activity of the specialist in ‘creative transformation’ should benefit from the anticipated drop in interest rates from the second part of the year, particularly among clients from ‘creative transformation’. tech’, a segment that is very exposed in terms of rates.
If the gains in new budgets (‘new business’) were disappointing in 2023, the analyst notes that WPP has decided to be more ‘offensive’ this year, which leads it to target organic growth of 0.9% in 2024, where the group itself has declared that it is targeting growth between 0% and 1%.
In this context UBS initiates coverage of the stock at ‘buy’ with a price target of 998 pence.
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