Publicis : We confirm our estimates despite the uncertain context
>Outperform rating reiterated - We provide an update hereafter of Publicis a few weeks after the publication of its Q1 2022 gross margin and in the current very uncertain economic context. While part of the consensus has opted for a downward revision of its expectations, we have chosen to maintain our 2022 and 2023 expectations unchanged. Admittedly, the environment has become tougher, economic visibility has been reduced, and some advertising players have warned abo...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.
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.
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