NEW YORK (AP) -- Jefferies & Co. raised its rating and price target for Interpublic Group of Cos. Inc. on Wednesday, though warned that there are headwinds for the entire advertising and marketing sector.
Analysts David Reynolds points out problems of limited growth in North American for Interpublic and its rivals, as well as slow growth in developing economies.
However, Reynolds credits Interpublic's chief executive with steering the company out of harm's way.
"From arguably a nadir in a loss making (2005), CEO Michael Roth has led an impressive turnaround at IPG," said analyst David Reynolds.
And while Interpublic may gain as the industry consolidates, Reynolds also says it could potentially be an acquisition target itself.
Reynolds lifted Interpublic to "Hold" from "Underperform" and increased its price target to $17.20 from $11.
A representative for Interpublic did not immediately respond to an email seeking comment.
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