WPP : A transitional year then a possible recovery in 2019
>Neutral recommendation reiterated and target price cut to 1,350p - On Tuesday, WPP held a conference call following the publication of H1 results which came in a shade below our estimates at the operating profit level (£ 821m vs £ 847m forecast). That said, organic growth was positive at +0.3%, thanks to an acceleration in Q2 (+0.7% vs -0.1% in Q1 2018), notably in mainland Europe (+3.9% vs -0.2% in Q1). Management has reiterated its new guidance for 2018, i.e. organ...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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