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Interpublic lower by more than 2% after Jefferies downgrade

  • After a number of years of trimming fat, there's not a lot of room for additional margin expansion next year, says analyst John Janedis, downgrading Interpublic Group (IPG -2.7%) to Hold from Buy. The price target is cut to $20 from $24 (shares currently at $19.93).
  • Alongside, Janedis and team trim their price target on Omnicom (OMC -1.2%) to $72 from $82 (currently $73.68), expecting below-trend organic growth in North America next year thanks to increased competition, and the shift of ad dollars to in-house and digital platforms.
  • Source: Bloomberg's Jeremy Cooke

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The Interpublic Group of Companies, Inc.