WPP (WPP) Price Target Cut to GBX 870 by Analysts at Goldman Sachs Group

WPP (LON:WPP) had its target price reduced by research analysts at Goldman Sachs Group from GBX 905 ($11.83) to GBX 870 ($11.37) in a research note issued to investors on Monday. The brokerage presently has a “neutral” rating on the stock. Goldman Sachs Group’s target price would suggest a potential upside of 7.22% from the company’s current price.

Several other research analysts have also weighed in on the stock. UBS Group set a GBX 1,150 ($15.03) target price on shares of WPP and gave the stock a “buy” rating in a research report on Friday, March 8th. Barclays upped their target price on shares of WPP from GBX 980 ($12.81) to GBX 1,000 ($13.07) and gave the stock an “equal weight” rating in a research report on Tuesday, March 5th. Numis Securities restated a “reduce” rating and set a GBX 800 ($10.45) target price on shares of WPP in a research report on Monday, March 4th. Berenberg Bank restated a “hold” rating and set a GBX 900 ($11.76) target price on shares of WPP in a research report on Friday, March 1st. Finally, Credit Suisse Group upped their target price on shares of WPP from GBX 960 ($12.54) to GBX 1,015 ($13.26) and gave the stock a “neutral” rating in a research report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. WPP has a consensus rating of “Hold” and an average target price of GBX 1,151.22 ($15.04).

Shares of WPP opened at GBX 811.40 ($10.60) on Monday. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 67.91. WPP has a twelve month low of GBX 791 ($10.34) and a twelve month high of GBX 1,375.50 ($17.97). The stock has a market cap of $10.40 billion and a price-to-earnings ratio of 9.63.

In other news, insider Mark Read sold 12,823 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of GBX 856 ($11.19), for a total value of £109,764.88 ($143,427.26).

WPP Company Profile

WPP plc provides various communications services worldwide. The company operates through four segments: Advertising and Media Investment Management; Data Investment Management; Public Relations & Public Affairs; and Branding Consulting, Health & Wellness and Specialist Communications. The Advertising and Media Investment Management segment provides advertising services; and media planning and buying, and specialist sponsorship, and branded entertainment services.

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Analyst Recommendations for WPP (LON:WPP)

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