BMO Capital Markets Raises Price Target on Omnicom (OMC)

BMO Capital Markets reported on Wednesday that they have raised their price target on advertising company, Omnicom Group Inc.(OMC).

The firm has maintained its “Market-Perform” rating on OMC, and has raised the company’s price target from $49 to $55. This price target suggests a -2.8% drop from the stock’s current price of $56.54.

An analyst from the firm commented, “4Q12 pro forma EPS of $1.10 was above our $1.08 estimate and consensus of $1.09. Reported GAAP EPS of $1.13 were impacted by a $0.20 tax benefit, partially offset by a $0.06 tax charge and an $0.11 write-down on an Egyptian equity investment. The Advertising discipline powered organic revenue growth of 2.7% (vs. our 2.5% and the Street’s 2.2%), while CRM came in weak at -1.6% as field marketing results suffered. Omnicom also announced that its quarterly dividend would grow to $0.40 from $0.30.”

Omnicom Group shares were up 53 cents, or 0.95% during Wednesday morning trading. The stock has increased 17.7% in the past year.

The Bottom Line
Shares of Omnicom Group Inc.(OMC) have a 2.86% yield, based on Tuesday’s closing price of $56.02

Omnicom Group Inc.(OMC) is not recommended at this time, holding a Dividend.com 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.

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