INVEST SECURITIES - WPP : Mieux vaut tard que jamais - NEUTRE vs VENTE ; OC : 9,07£ vs 8,39£
L'investor day d'hier a permis au nouveau management d'exposer sa stratégie. Sans surprise, elle est proche de celle de ses concurrents et vise à simplifier ses structures pour mieux répondre à la demande de ses clients dans un monde bouleversé par la transformation digitale. Les mesures prises visent à retrouver une croissance en ligne avec celle du secteur en 2021 mais avec des marges moins ambitieuses (au moins 15%) que par le passé pour obtenir un meilleur équilibre croissance/rentabilité. Nous révisons nos prévisions pour prendre en compte ces nouveaux éléments et relevons notre OC à 9,07£ (vs 8,39£) pour intégrer une croissance plus élevée à moyen terme. Notre opinion passe de VENTE à NEUTRE.WPP is a holding company. Through its subsidiaries, Co. is a communications services organization providing national and multinational clients a range of communications services. Co. is organized into four operating segments: Advertising and Media Investment Management; Data Investment Management; Public Relations and Public Affairs; and Branding and Identity, Healthcare and Specialist Communications. This last reportable segment includes WPP Digital and direct, digital, promotional & relationship marketing.
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.
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