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Fly News Breaks for June 6, 2017
IPG
Jun 6, 2017 | 06:08 EDT
Macquarie analyst Tim Nollen downgraded Interpublic Group to Neutral with a $24 price target due to likely cyclical moderation ahead that will pressure agency growth rates. Nollen said e-commerce changes on how companies go to market, and Amazon bringing together ad platforms with direct product sales is changing how companies market and distribute their products. Increasing automation and new in-house capabilities for advertisers is resulting in new cost demands and pressures, the analyst wrote, Further, US leading economic indicators have begun to turn, making it unlikely for cyclical media stocks to outperform, Nollen said.
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