Publicis Is More Leveraged Than Its Peers Toward Faster-Growing Digital Advertising
Publicis reported disappointing fourth quarter and 2018 results as similar to its peer, WPP, the firm is facing less spending on traditional advertising from its U.S. consumer packaged goods clients. There was some good news, as while organic growth in net revenue missed all expectations, the firm did continue its margin expansion. We cut our estimates which resulted in a new fair value estimate of EUR 60 for Publicis, lower than our prior EUR 65. Given what appears will be a difficult year, mai...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.
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.
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