J.P. Morgan Reiterates Overweight Rating On OMC

Omnicom Group Inc. OMC reported a very strong Q4 with nice upside to EPS at $0.83, “three cents ahead of our estimate and $0.02 above consensus,” J.P. Morgan reports. “The upside surprise came largely from strong revenues which beat our expectations both in the US and international,” J.P. Morgan writes. “Total organic revenue growth was up 10% in the quarter, the best growth we have seen in many years despite comparisons that had become a bit more difficult than the last few quarters. “We reiterate our Overweight rating on these strong results which are reflective of the ongoing improvement in the ad market, Omnicom's strong positioning in many markets as well as an impressive new business track record.” Omnicom Group Inc. closed Monday at $49.95.