WPP : More caution on H2, downward revision to annual organic guidance
>Neutral rating reiterated - target price lowered to 850p - Yesterday, WPP published H1 2024 results followed by a conference call. The organic performance in Q2 came in a shade below forecasts -0.5% (vs -0.3% forecast by ODDO BHF and -0.4% for the consensus). H1 EBIT at group level was £ 646m and therefore slightly below our forecast for £ 656m. The group has lowered its guidance for organic growth for 2024, which came as no great surprise since it has lost a number ...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.
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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