Report
Claire Barbaret

INVEST SECURITIES - Publicis : Des revenus T3 rassurants - ACHAT; OC 63,8€

Le revenu net T3 de Publicis est rassurant et affiche un net rebond (+2,2% hors Publicis Health Services) après un T2 qui avait fortement déçu. Il bénéficie de l'impact attendu des gains de budgets du T1 et de la pertinence de la stratégie de la société orientée autour de «strategic game changers » (maîtrise de la donnée, créativité dynamique et technologie). Outre ces facteurs intrinsèques à Publicis, il apparaît que le modèle économique des groupes de communication qui laissait craindre le pire en 2017, permet encore d'afficher des taux de croissance satisfaisants associés à des gains de marge. C'est le cas au T3 pour Omnicom et Publicis et probablement Interpublic qui publie ses résultats aujourd'hui. Opinion ACHAT maintenue avec un OC de 63,8€.
Underlying
Publicis Groupe SA

Publicis is holding company. Through its subsidiaries, Co. is engaged in marketing, communication and digital transformation. Co. designs a customized package of services to meet each client's particular needs through a holistic and global approach. In addition, Co. provides financial markets with information concerning the relative size of each of the different business sectors for the sole purpose of allowing sector comparisons. Co.'s principal activities comprise four main categories: Digital, Advertising, Specialized Agencies and Marketing Services (SAMS) and Media.

Provider
Invest Securities
Invest Securities

Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.

Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.

Analysts
Claire Barbaret

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