WPP share price: Ad giant named Holding Company of the Year
WPP Plc (LON:WPP) was last week named as Holding Company of the Year at this year’s Cannes Lions International Festival of Creativity. This was WPP’s fifth win in as many years, a remarkable achievement for the UK ad giant. In claiming the title, WPP beat rivals Omnicom and Publicis, which finished second and third, respectively.
WPP’s chief executive officer, Martin Sorrell, commented: “We are delighted to have made it a quintuplet (or should I say quintuplé?) of wins in Cannes.” He continued: “The holding company award is special because it is a shared achievement, reflecting the hard work, passion and commitment of every member of the WPP family.”
The good news for WPP didn’t end there, as the group’s subsidiary Ogilvy and Mather was named as Network of the Year for the fourth consecutive year. Ogilvy & Mather’s worldwide chief creative officer, Tham Khai Meng, was quite pleased with the achievement.
“Four in a row! We are overwhelmed with gratitude,” Meng said. “This remarkable achievement is a testament to the bravery of our clients and the creativity of our teams around the world.”
In today’s trading, WPP shares were up 2.3 percent at 1,459.00p, as of 15:15 BST. The company’s stock has fallen 3.5 percent since the start of the year.
The 27 analysts offering 12 month price targets for WPP have a median target of 1,665p, with a high estimate of 2,035p and a low estimate of 1,250p. As of June 26, 2015, the consensus forecast amongst 31 polled investment analysts covering WPP had it that the company will outperform the market. The same consensus estimate has been maintained since October 16, 2009, when the sentiment of investment analysts improved from “hold”.
As of 16:01 BST, Wednesday, 01 July, WPP PLC ORD 10P share price is 1,455.50p.
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