Omnicom Group

(OMC) - Get Report

, the world's largest ad holding company, was upgraded Friday by Citigroup Smith Barney.

The company, which owns a wide network of marketing services and communications agencies including BBDO Worldwide and media planning company OMD, is outperforming peers according to the firm, which lifted it to a buy rating from hold.

Shares in Omnicom were trading up 10 cents to $78.65 on Friday afternoon.

Omnicom is looking at favorable growth projections vs. its peers in coming quarters, the upgrade says. Omnicom competes with ad holding companies including

WPP

(WPPGY)

,

Interpublic

(IPG) - Get Report

,

Publicis

(PUB) - Get Report

and

Havas

(HAVS)

.