20 Most Favored Communication Services Stocks According to Hedge Funds

Page 6 of 20

15. Omnicom Group (NYSE:OMC)

Sector/Industry: Communication Services (Advertising Agencies)

Share Price: $77.58

Potential Upside: 17.9%

Number of Hedge Fund Holders: 42

Omnicom Group (NYSE:OMC) is one of the best communication services stocks according to Hedge Funds.

On December 16, Thomas Yeh of Morgan Stanley initiated coverage of Omnicom Group (NYSE:OMC) with an Equal Weight rating. Yeh cited the company’s post-deal integration risks related to their merger with IPG as the basis for his cautious rating. He has forecasted a target price of $88, which offers an upside of 13.5% from the current level.

Citi analyst Jason Bazinet reiterated his optimism on Omnicom Group (NYSE:OMC) by assigning a Buy rating on December 9. He also set a $103 price target for the stock, which implies that it currently offers almost 33% upside.

Bazinet holds a favorable outlook on Omnicom Group (NYSE:OMC), and his optimism stems from the broader industry’s evolving dynamics. The analyst pointed out that changing demands within the digital marketing realm, led by agency clients. This bodes well for Omnicom Group (NYSE:OMC), which is expected to deliver strong returns in the coming year.

Omnicom Group (NYSE:OMC) is a media, communications, sales, and marketing company that operates through its various subsidiaries. They deliver services such as advertising, branding, precision marketing, content marketing, CSR consulting, public relations support, and more. They integrate their technical expertise with data management and analytics to deliver superior value to customers.

Page 6 of 20