As reported earlier, Argus analyst Deborah Ciervo downgraded Omnicom to Hold From Buy following Q2 results that showed disappointing revenue and weak advertising trends. The analyst believes that the weakness in the retail sector is weighing on the company's North America business, even as performance has improved in Europe, U.K., and Asia. Ciervo added that she expects continued slow organic growth in the near term, even as her outlook for the longer term remains bullish "based on its leading industry position and our high regard for management, which has a history of topping Street expectations and achieving high returns on invested capital".

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.