Report
Ali Mogharabi
EUR 98.48 For Business Accounts Only

Relaunching Coverage of Publicis With Narrow Economic Moat, Stable Trend, and FVE of EUR 65

We are relaunching coverage of advertising holding firm Publicis with a EUR 65 fair value estimate and narrow moat and stable moat trend ratings. Publicis is the third-largest player within the advertising space (based on revenue), operating in more than 100 countries worldwide. We expect Publicis to maintain its market position as the firm continues to make acquisitions. In addition, we believe the firm’s restructuring will likely help it generate competitive organic growth, increase focus on t...
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
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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