Report
Jerôme Bodin

ODDO : We now prefer WPP vs Publicis

>The coming months could be favourable to WPP - We have inverted our hierarchy of stocks for advertising agencies. We now prefer WPP (Outperform vs Neutral) vs Publicis (Neutral vs Outperform). We made the opposite move on 24 January 2022. Firstly, we forecast slightly positive organic growth for the agencies in 2023 and have factored in no recession scenario in advertising. Granted, the environment is depressed but we think that the agencies could prove resilient and...
Underlyings
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.

WPP Plc

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Jerôme Bodin

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