JPMorgan Chase & Co. Issues Positive Forecast for WPP (LON:WPP) Stock Price

Key Points

• JPMorgan raised WPP’s price target from GBX 350 to GBX 390 while maintaining a “neutral” rating. The broader analyst consensus remains “Hold,” with an average target price of GBX 360.
• WPP’s shares opened at GBX 390, near the top of their 12-month range, following signs of stabilization and recovery despite a 4.7% like-for-like decline in first-half adjusted revenue.
• Cost controls and restructuring are supporting profit growth and investor confidence, but continued revenue declines and job cuts highlight that WPP’s turnaround still requires further evidence.

WPP (LON:WPP - Get Free Report) had its target price upped by stock analysts at JPMorgan Chase & Co. from GBX 350 to GBX 390 in a research note issued on Friday,London Stock Exchange reports. The brokerage presently has a "neutral" rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Citigroup boosted their price target on shares of WPP from GBX 275 to GBX 285 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Berenberg Bank restated a "buy" rating and issued a GBX 405 price objective on shares of WPP in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, WPP presently has a consensus rating of "Hold" and an average target price of GBX 360.

WPP Price Performance

LON WPP opened at GBX 390 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 268.98. WPP has a 12-month low of GBX 218.50 and a 12-month high of GBX 409.50. The company has a market capitalization of £4.21 billion, a PE ratio of -19.50, a price-to-earnings-growth ratio of 13.47 and a beta of 0.68. The firm's 50 day moving average is GBX 277.32 and its 200-day moving average is GBX 269.30.

WPP (LON:WPP - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported GBX 1.80 EPS for the quarter. WPP had a negative net margin of 1.59% and a negative return on equity of 7.54%. Equities research analysts anticipate that WPP will post 81.6125654 earnings per share for the current fiscal year.

Insider Transactions at WPP

In other news, insider Peter Agnefjäll bought 75,000 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were bought at an average cost of GBX 281 per share, with a total value of £210,750. Also, insider Cindy Rose sold 88,227 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of GBX 282, for a total transaction of £248,800.14. 2.04% of the stock is currently owned by corporate insiders.

WPP News Summary

Here are the key news stories impacting WPP this week:

• Positive Sentiment: WPP reported a 4.7% like-for-like decline in first-half adjusted revenue, but the result reportedly showed signs of stabilization and recovery. Investors appear to have focused on improving trends rather than the still-negative growth rate. WPP shares soar as advertising group shows signs of recovery
• Positive Sentiment: Profit growth outpaced the revenue decline, indicating that cost controls and efficiency measures are supporting margins. This helped drive reports of a more than 20% share-price jump. WPP jumps over 24pc as profit growth defies revenue slide
• Positive Sentiment: Management’s overhaul is beginning to produce results, easing concerns about WPP’s turnaround and prompting investors to reassess the company’s recovery prospects. WPP shares jump more than 20% as overhaul begins to bear fruit
• Neutral Sentiment: The market reaction reflects a “turnaround bounce” rather than confirmation that WPP has fully returned to sustainable growth; investors will likely look for further evidence in coming quarters. WPP Gets a Turnaround Bounce, Not a Victory Lap
• Negative Sentiment: WPP is cutting jobs while revenue continues to fall, underscoring ongoing restructuring needs and weak demand across parts of the advertising market. WPP slashes jobs as revenue continues to fall

About WPP

WPP is the creative transformation company, using the power of creativity to build better futures for our people, planet, clients and communities. We are a world leader in marketing services, with deep AI, data and technology capabilities, global presence and unrivalled creative talent.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source