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Omnicom Group’s Price Target Reduced at Deutsche Bank, but Still a “Buy” (OMC)

By Dividend.com,  June 11, 2012, 11:02:24 AM EDT

Advertising and marketing giant Omnicom Group Inc. ( OMC ) on Monday caught some tepid commentary from analysts at Deutsche Bank.

The firm maintained its "Buy" rating on OMC but lowered its price target $53 to $51. That new target suggests a 6% upside tot he stock's Friday closing price of $48.06.

A Deutsche Bank analyst commented, "US-based ad agencies offer attractive exposure in current environment. We believe that investors should buy shares of the US-based ad agencies despite the incremental headwinds from recent USD strength. While headline EPS for Omnicom and IPG come down due to FX, both companies are relatively insulated from possible weakness in Europe because of US ad market growth."

Omnicom shares were mostly flat in morning trading Monday.

The Bottom Line
Shares of Omnicom Group ( OMC ) have a 2.50% dividend yield, based on last Friday's closing stock price of $48.06. The stock has technical support in the $44-$46 price area. If the stock can firm up, we see overhead resistance around the all-time high levels of $51-$52 a share.

Omnicom Group Inc. ( OMC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: OMC



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