UPDATE: Wedbush Raises PT on Omnicom Group Ahead of 1Q13 Results Report

In a report published Monday, Wedbush analyst James Dix reiterated a Neutral rating on Omnicom Group OMC, and raised the price target from $58.00 to $60.00. In the report, Dix noted, “Omnicom will report 1Q13 results BMO on Thursday, April 18 – we maintain our 1Q EPS estimate at $0.76 (Street: $0.75), on an unchanged EBIT estimate of $386m (Street: $383m)...For 1Q, we think Omnicom should meet/beat our estimates. Our 1Q operating assumptions are 2.5% organic revenue growth and 12.1% EBITA margin (vs. 11.7% in 1Q12). Investor focus will likely include whether growth outside the developed markets reaccelerates after a 4Q lull – management indicated with 4Q results that it expected robust growth in Asia and Latam in 2013.” Omnicom Group closed on Friday at $60.15.