Additional Information


Content

Omnicom to benefit 'from long-term
growth opportunities'

NEW YORK - Omnicom Group, owner of the BBDO and TBWA\ advertising networks, has received a boost from investment bank UBS Warburg, which said the agency group would "benefit from long-term growth opportunities".

Share this article

The comments came as the bank gave Omnicom a "buy" rating in a trading note to clients.



UBS Warburg has set a $100 price target for Omnicom shares, which were trading at $86.83, down 1.8%, this morning in New York.



In the trading note, UBS Warburg said: "We believe long-term double-digit earnings growth is sustainable, given the demand for innovative marketing solutions in an increasingly complex and fragmented market."


At last week's UBS Warburg conference on the media industry, Omnicom CEO John Wren gave an optimistic outlook on the company's prospects.



It was there that Wren said the company, clients of which include PepsiCo and DaimlerChrysler, is aiming for double-digit earnings growth in 2002. Analysts have predicted earnings estimates of between 86 to 88 cents a share for Omnicom.



Today, it was also reported that Omnicom is to branch out into security, following a scandal at McDonald's where promotional sweepstakes were stolen by an employee of the marketing agency running the promotion.



The company has hired former New York City police commisssioner Howard Safir and Joseph Rosetti, formerly vice-chairman of security company Kroll Associates. The new division will be known as SafirRosetti, based in New York.



If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.



Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed

FROM THE BLOGS

The Wall blogs

Back to top ^