As noted earlier, RBC Capital upgraded Omnicom to Outperform from Sector Perform. Analyst Steven Cahall says that economists expect economic growth to accelerate, while Omnicom is highly leveraged to the U.S. economy. He expects analysts' estimates for the company to rise, causing the stock to rally significantly. Target to $101 from $87.

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.