One Reason Why Interpublic (IPG) Stock Is Gaining Today
Interpublic IPG
NEW YORK (TheStreet) -- Shares of Interpublic Group of Cos. (IPG) - Get Report are climbing 2.13% to $23.30 on Friday morning as Morgan Stanley said the selloff in the stock following its 2016 second quarter results is a buying opportunity, the Fly reports.
Yesterday, the stock slumped after the company reported in-line earnings, but lighter-than-expected revenue for the second quarter.
The firm remains confident in second half of the year growth and said IPG exited the quarter with the highest organic growth among its competition, the Fly noted.
Organic growth, which is an important measure in the advertising and marketing sector, rose 3.7% during the period. It climbed 4.6% in the U.S. and 2.3% abroad.
Additionally, IPG expects that full-year organic growth will be at the upper end of its outlook for an increase of 3% to 4%.
Morgan Stanley maintained an "overweight" rating and $26 price target on shares.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, solid stock price performance, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures.
The team believes its strengths outweigh the fact that the company shows low profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: IPG