Report
Ali Mogharabi
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IPG Reports Strong 2Q and Ups Revenue Guidance; Maintaining $25 FVE; Shares Slightly Undervalued

IPG’s second-quarter numbers beat on the top and bottom lines as the firm continued its impressive organic growth. In addition, unlike some of its peers, IPG results demonstrated strong organic growth in the U.S. Other growth drivers included higher demand for creativity, plus a slight increase in ad spending by consumer packaged goods companies, which we think may also bode well for WPP's second-quarter results. With better-than-expected growth in the first half of 2018, IPG upped its full-year...
Underlying
Interpublic Group of Companies Inc.

Interpublic Group of Companies is an advertising and marketing services company. The company's segment include: Integrated Agency Networks (IAN) and Constituency Management Group (CMG). Within IAN, the company's agencies provide an array of communications and marketing services, each providing a range of solutions for its clients. In addition, the company's domestic integrated agencies provide a range of advertising, marketing communications services and/or marketing services and partner with its operating divisions as needed. CMG provides clients with services, including public relations, meeting and event production, sports and entertainment marketing, corporate and brand identity, and marketing consulting.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Ali Mogharabi

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