Omnicom Downgraded at Deutsche Bank (OMC)

Deutsche Bank reported on Monday that they have downgraded global marketing company, Omnicom Group Inc.(OMC).

The firm announced that they have downgraded OMC from a “Buy” to a “Hold,” have have decreased the company’s price target from $58 to $52. This price target suggests a 4% increase from the stock’s current price of $49.82.

An analyst from the firm noted, “while Omnicom remains on track for its 2012 goals and is not expensive relative to the S&P 500, we would rather be on the sidelines going into 2013 given our subdued sector revenue outlook, limited prospects for operating leverage, and absence of positive catalysts. We do not see Omnicom moving back to its historical premium valuation until ad market conditions improve, and prefer Interpublic (NYSE: IPT) (Buy, $14.50 TP) and MDC Partners (Nasdaq: MDCA) (Buy, $16 TP) among the US agencies, and Havas (Buy, E5.0 TP, covered by Patrick Kirby) in Europe.”

Omnicom shares were mostly flat during premarket trading Monday. The stock is up 11.75% YTD.

The Bottom Line
Shares of Omnicom Group (OMC) have a 2.41% dividend yield, based on Friday’s closing stock price of $49.82. The stock has technical support in the $45-$46 price area. If the shares can firm up, we see overhead resistance around the $52-$54 price levels.

Omnicom Group Inc.(OMC) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here