RBC Capital Reiterates a Hold Rating on Interpublic Group of Companies

By Ryan Adsit

RBC Capital analyst Steven Cahall reiterated a Hold rating on Interpublic Group of Companies (NYSE: IPG) yesterday and set a price target of $26. The company’s shares closed yesterday at $24.49, close to its 52-week high of $25.71.

According to TipRanks.com, Cahall is a 3-star analyst with an average return of 3.9% and a 58.1% success rate. Cahall covers the Services sector, focusing on stocks such as Regal Entertainment, Sinclair Broadcast, and AMC Entertainment.

Currently, the analyst consensus on Interpublic Group of Companies is Hold and the average price target is $24.21, representing a -1.1% downside.

In a report issued on January 31, Morgan Stanley also maintained a Hold rating on the stock with a $23 price target.

Based on Interpublic Group of Companies’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $2.34 billion and quarterly net profit of $317 million. In comparison, last year the company earned revenue of $2.26 billion and had a net profit of $318 million.

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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.