Wells Fargo Issues a Hold Rating on Interpublic Group of Companies

By Jason Carr

In a report released today, Peter Stabler from Wells Fargo assigned a Hold rating to Interpublic Group of Companies (NYSE: IPG). The company’s shares opened today at $23.82.

Stabler noted:

“We believe IPG’s assets are broadly competitive and that investors place too much emphasis on the scale argument across the agency landscape. However, we acknowledge an array of headwinds currently facing the agency holding companies and, amid this backdrop, we view current valuation as full. DISCLOSURE APPENDIX Required Disclosures Additional Information Available Upon Request I certify that: 1) All views expressed in this research report accurately reflect my personal views about any and all of the subject securities or issuers discussed; and 2) No part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by me in this research report. Wells Fargo Securities, LLC and/or its affiliates, have beneficial ownership of 0.5% or more of any class of the common stock of The Interpublic Group of Companies, Inc.”

According to TipRanks.com, Stabler is a 5-star analyst with an average return of 26.9% and a 78.7% success rate. Stabler covers the Technology sector, focusing on stocks such as ANGI Homeservices Inc, IAC/InterActiveCorp, and Match Group Inc.

Currently, the analyst consensus on Interpublic Group of Companies is Hold and the average price target is $22.63, representing a -5.0% downside.

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

Interpublic Group of Companies’ market cap is currently $8.63B and has a P/E ratio of 15.43. The company has a book value ratio of 4.2887.

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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.