Wpp Plc (WPP) Stock Rating Lowered by Morgan Stanley
Wpp Plc (LON:WPP) was downgraded by investment analysts at Morgan Stanley to an “equal weight” rating in a report issued on Tuesday. They presently have a GBX 1,600 ($21.52) price target on the stock, down from their prior price target of GBX 1,930 ($25.95). Morgan Stanley’s price target would indicate a potential upside of 14.37% from the company’s current price.
Several other brokerages have also weighed in on WPP. Credit Suisse Group reissued an “outperform” rating on shares of Wpp Plc in a report on Friday, July 21st. UBS AG initiated coverage on Wpp Plc in a report on Tuesday, June 13th. They issued a “buy” rating and a GBX 2,050 ($27.57) price objective for the company. Kepler Capital Markets reissued a “buy” rating and issued a GBX 2,100 ($28.24) price objective on shares of Wpp Plc in a report on Tuesday, August 22nd. J P Morgan Chase & Co reissued an “overweight” rating on shares of Wpp Plc in a report on Thursday, August 24th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Wpp Plc in a report on Friday, July 14th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of GBX 1,817 ($24.44).
Shares of Wpp Plc (LON WPP) opened at 1386.00 on Tuesday. The stock has a 50 day moving average of GBX 1,482.27 and a 200-day moving average of GBX 1,625.68. Wpp Plc has a 12 month low of GBX 1,345.00 and a 12 month high of GBX 1,928.07. The company’s market cap is GBX 17.55 billion.
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In other Wpp Plc news, insider Jacques Aigrain purchased 4,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was purchased at an average price of GBX 1,439 ($19.35) per share, for a total transaction of £57,560 ($77,407.21).
About Wpp Plc
WPP plc provides various communications services worldwide. The company operates through four segments: Advertising and Media Investment Management; Data Investment Management; Public Relations & Public Affairs; and Branding & Identity, Healthcare and Specialist Communications. The Advertising and Media Investment Management segment provides advertising services; and media planning and buying, and specialist sponsorship, and branded entertainment services.
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