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Posted by
Two Blokes Jun 6 -
Filed in
Stock
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We initiate coverage on The Interpublic Group of Companies with a Strong Buy rating, as we believe the market underestimates durable earnings power with structural cost discipline among near-term restructuring. Our internal estimates imply FY25E EPS of $2.17 (19% below consensus), with authentic margin recapture only in late FY26E. We believe investors who act now will benefit from an attractive R/R as IPG's margin expansion and re-acceleration of earnings will drive a re-rating by late FY26E.
