U.S. Markets closed

Albert Fried & Company on Omnicom; Happy About Dividend Increase

Shazir Mucklai

On Thursday, Albert Fried & Company, LLC, Upgraded shares of Omnicom Group (NYSE: OMC) to from Underweight to Market Perform and raised the price target from $56 to $76.

Analyst Rich Tullo, led the research at the firm, the firm said that it had raised the price target as it now thinks, “Publicis was the sick sister in the POG debacle.”

The firm continued to state, “We think Captain Obvious would say OMC's 25% dividend increase and $1 billion share repurchase program has muted any selling overhang from the merger arbitrage unwind.”

Omnicon Group, just went through a deal with Twitter, which will help the OMC brand in digital media purchasing.

The analyst continued to state that they were right on POG and were wrong on OMC shares.

Shares of the company are trading up about one percent.

Related Links

© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.