As previously reported, Macquarie upgraded Omnicom to Neutral from Underperform and raised its price target to $77 from $67 following the Q4 report. Analyst Tim Nollen said the Omnicom disappointed on the top line but beat on the bottom line and reported better than expected organic growth guidance. Nollen believes industry dynamics appear to be stabilizing as the company is demonstrating it can manage through changing markets.
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