BARCLAYS STARTS OMNICOM GROUP (OMC) AT OVERWEIGHT

Barclays Initiated Coverage on Omnicom Group Inc with an Overweight rating and price target at $85.

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“The focus for Omnicom is around the proposed merger with Publicis. The combined Publicis Omnicom group could deliver an attractive 17% TSR for shareholders, and yet trades at a modest discount to its closest peer WPP on 2017E (first year of synergies and implementation costs drop out of the P&L). We continue to like the agency business model as well.” Barclays analysts said in a note

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