This is according to the German boutique bank Berenberg, which has raised its earnings estimates and price target for the advertising and marketing giant.
The latter moves to 635p a share from 565p, though Berenbergs recommendation remains unchanged at hold.
“While clearly cheap, WPP trades, on both levered and unlevered metrics, at a premium to Publicis, and we see more upside in the French group,” it said in a note to clients.
Last week FTSE100 WPP said it had decided to pay an interim dividend in spite of racking up a £2.6bn loss in the first half of 2020.
Chief executive Mark Read said WPP was on a stronger financial footing than it had been.
It has £4.7bn of 'liquidity' thanks mainly to the sale of a majority stake in the consulting group Kantar, and a falling cost base.
Revenue in the first half was £5.6bn, down from £6.4bn a year earlier. On a net basis revenue was £4.7bn (£5.2bn) while underlRead More – Source