J.P. Morgan Reiterating Overweight On Interpublic Group of Companies (IPG)

J.P. Morgan Chase & Co. is reiterating its Buy rating and $16 price target on shares of Interpublic Group of Companies IPG after the company held its investor day. In a note to investors, J.P. Morgan writes, "We reiterate our Overweight rating on IPG following encouraging commentary across most presentations. We continue to believe IPG remains an attractive investment given its above-average earnings growth profile derived from the healthy ad market and sizable projected margin expansion from current levels. We believe the stock's discounted valuation on an EBITDA basis, versus its peers, will continue to narrow as the company delivers on its financial goals, resulting in another year of outperformance." Shares of IPG lost 1 cent yesterday to close at $12.10.