Morgan Stanley Maintains Equal-Weight on Omnicom

Morgan Stanley is out with its report today on Omnicom OMC, maintaining Equal-weight. In a note to clients, Morgan Stanley writes, "We remain Equal-weight OMC in the context of our Attractive view of the Media industry. Our $50 target represents ~13x fwd EPS, broadly in-line with large cap Media peers. Key risks include a double dip in global economies leading to organic revenue deterioration. Accelerating return of capital could lead to earnings and stock upside." At the time of posting, shares of OMC were trading pre-market at $49.19, up 3.58% from Monday's close.