Here's Why Omnicom Shares Are Trading Higher Today

Wells Fargo analyst Steven Cahall raised the price target on Omnicom Group Inc OMC to $96 from $85 (21.6% upside) and kept an Equal Weight rating on the shares.
The analyst said Omnicom posted a "very solid" quarter amidst somewhat low expectations.
Guidance for 5%-6% growth indicates "much stronger underlying trends," but the upside potential he sees is more limited when compared to other names in his coverage, Cahall noted.
Omnicom reported fourth-quarter FY21 revenue growth of 2.6% year-on-year to $3.86 billion, beating the consensus of $3.68 billion. EPS of $1.95 beat the consensus of $1.73.
"Global organic revenue growth of 9.5% exceeded our expectations in the fourth quarter, operating profit margins remained very strong, and we posted solid quarterly earnings per share," said John Wren, Chairman, and CEO of Omnicom.
Price Action: OMC shares traded higher by 13.2% at $89.35 on the last check Wednesday.

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