Publicis: back to record high, JPMorgan optimistic for 2025

(CercleFinance.com) - On Wednesday, Publicis was the biggest riser on the CAC 40, closing in on its all-time highs reached last May, as JPMorgan upgraded its advice on the stock.


At around 3:45 pm, the advertising and communications group's stock gained 3.5%, bringing its year-to-date gains to almost 27%, one of the best annual performances on the CAC.

In a sector note, JPMorgan analysts say that the stock is one of their favorite European media stocks heading into 2025, alongside UMG, RELX and Vivendi.

The research firm believes that the group is well positioned to outperform its rivals in the months ahead, thanks in particular to its solid presence in the United States, still the main driver of the market.

Its organic growth forecast for the next financial year has been raised from 4.1% to 5.1%, leading it to raise its price target from 109 to 140 euros, i.e. a potential upside of some 36%.

In its view, the Publicis share should trade at a premium of over 30% to its rivals, in view of its growth rate, new contract wins and the quality of its mix.

As for the proposed merger between Omnicom and Interpublic, JPMorgan acknowledges that the operation will certainly create a stronger competitor, but will also limit competition by changing the structure of the market.

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