Morgan Stanley Downgrades Interpublic Group (IPG) to Underweight

Morgan Stanley analyst Cameron McVeigh downgraded Interpublic Group (NYSE: IPG) from Equalweight to Underweight with a price target of $28.00 (from $34.00).

The analyst comments: "We reduce our FY25 organic revenue growth by 90bps to 1.8% to account for recent account losses. We acknowledge that the impact of any one account win or loss is difficult to estimate. In general, spending levels among existing clients far outweigh the impact of net new business trends for major holding companies like IPG. Our more cautious forecast is therefore a reflection of recent performance by IPG and our attempt at reflecting the impact of recent account losses."

For an analyst ratings summary and ratings history on Interpublic Group click here. For more ratings news on Interpublic Group click here.

Shares of Interpublic Group closed at $29.65 yesterday.

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