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Prices & Quotes - UK Markets - WPP (WPP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 888.20p
Change Today:
-1.80p
Market Cap:
10,883m
Sector:
Media

Bank of America upgrades WPP on new targets

By Sean Farrell

Date: Thursday 17 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Bank of America upgraded WPP to 'neutral' and increased its price target after the advertising company set out new growth targets.

WPP said on Thursday it would cut costs by 600m a year by 2025 and reinvest two thirds of the savings in the business. It also plans to spend 200m-400m a year on acquisitions to catch up with the shift to digital advertising.

The FTSE 100 group also said it was aiming for an operating margin of 15.5% to 16% by 2023, higher than its previous target of at least 15%. WPP's fourth-quarter revenue decline of 6.7% is tracking better than expected, the analysts said.

"The ... targets are very clear and we see 3-5% EPS [earnings per share] upgrades on the back of more bullish margin targets and better FY20 out-turn," Bank of America said. The bank increased its rating from 'underperform' and raised its price target sharply to 830p from 570p.

The ad market will recover strongly but visibility on execution is low and agencies are underperforming the wider market, the analysts said.

"WPP is also implicitly admitting that the 'good old days' in the communication vertical are over" and acquisition ambitions are an end to the simplification message of the past two years, Bank of America said.





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WPP Market Data

Currency UK Pounds
Price 888.20p
Change Today -1.80p
52 Week High 908.80p
52 Week Low 483.70p
Volume 2,680,464
Shares Issued 1,225.33m
Market Cap 10,883m

Performance Indicators

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What The Brokers Say

Strong Buy 10
Buy 2
Neutral 7
Sell 1
Strong Sell 2
Total 22
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

WPP Dividends

  Latest Previous
  Interim Interim
Ex-Div 08-Oct-20 03-Oct-19
Paid 06-Nov-20 04-Nov-19
Amount 10.00p 22.70p

Trades for 05-Mar-2021

Time Volume / Share Price
17:05 10,230 @ 890.88p
16:35 1,242,245 @ 888.20p
16:29 22 @ 888.00p
16:29 108 @ 888.00p
16:29 250 @ 888.00p

WPP Key Personnel

CEO Mark Read
CFO John Rogers