Wells Fargo upgraded Omnicom to Outperform saying secular concerns are overblown and that shares are attractive following the recent pullback. Wells raised its price target range for shares to $81-$83 from $76-$78.

Argus analyst Kristina Ruggeri raised the firm's price target on Omnicom to $103 from $97 and keeps a Buy rating on the shares. The company's recent acquisition of Flywheel Digital will provide a competitive advantage for the company and near real-time performance measurement of campaigns for its clients, the analyst tells investors in a research note. Omnicom is also positioning itself as a leader in AI tools, which will enable its agency teams to do their jobs more efficiently and focus on high-impact work for clients, while is distribution yield of about 3% is "attractive", the firm added.