Publicis: Oddo BHF still on hold

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Publicis, with an unchanged target price of E102, with the company publishing its annual results on 4 February.


The consensus is looking for organic growth of 4.46% in 2025 (source: Visible Alpha), while Oddo BHF is slightly more cautious, forecasting +4% after an expectation of +5.6% in 2024 (with Q4 at +5.7%).

In the near term, we believe that the current valuation (2025 P/E of 13.3x) correctly reflects the earnings outlook, the analyst says.

According to Oddo BHF, Publicis will probably communicate a margin of "around 18%" and should continue its investments in AI (~E100m in 2025 stable vs. 2024).


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