Jefferies Keeps Their Buy Rating on Interpublic Group of Companies

By Ryan Adsit

Jefferies analyst John Janedis reiterated a Buy rating on Interpublic Group of Companies (NYSE: IPG) today and set a price target of $27. The company’s shares opened today at $24.33.

According to TipRanks.com, Janedis is a 5-star analyst with an average return of 7.6% and a 62.4% success rate. Janedis covers the Services sector, focusing on stocks such as Live Nation Entertainment, Madison Square Garden Co, and Charter Communications.

Currently, the analyst consensus on Interpublic Group of Companies is Strong Buy and the average price target is $27.40, representing a 12.6% upside.

In a report issued on May 11, RBC Capital also reiterated a Buy rating on the stock with a $29 price target.

Interpublic Group of Companies’ market cap is currently $9.61B and has a P/E ratio of 15.89. The company has a book value ratio of 4.8931.

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Interpublic Group of Cos., Inc. provides marketing and business services. It specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. The company has three global networks, McCann Worldgroup, Foote, Cone & Belding and MullenLowe Group, which provide integrated, large-scale advertising and marketing solutions for clients. Its global media services companies include UM and Initiative, which operate under the IPG Mediabrands umbrella. It operates its business through two segments: Integrated Agency Network and Constituency Management Group. The Integrated Agency Network segment is comprised of Draftfcb, Lowe, McCann, Media agencies and Stand-alone agencies. The Constituency Management Group segment includes Weber Shandwick, FutureBrand, DeVries, GolinHarris, Jack Morton, and Octagon Worldwide. It provides clients with diversified services, including public relations, meeting and event production, sports and entertainment marketing, corporate and brand identity and strategic marketing consulting. The company was formerly known as McCann-Erickson, Inc. and changed its name The Interpublic Group of Co., Inc. in January 1961. Interpublic was founded on September 18, 1930 and is headquartered in New York, NY.