The share price of global advertising company Interpublic Group (IPG) has regained the ground lost from the pandemic.
At the close in the US on Friday, the shares were at $US23.92, up 1.18% on the day and a long way from the $US12.53 during the depths of the coronavirus crisis in March.
Several market analysts have been recommending IPG as a way to benefit from the inevitable upswing in ad spend in 2021.
The US-based research house MoffettNathanson sees IPG as the strongest of the holding companies.
Now investment bank Barclays has placed an overweight rating on IPG with a price target of $US33.
Barclays see the current share price as a “depressed valuation” with plenty of scope for earnings growth.
IPG lagged the industry in the early 2000s but has since turned the business around, with organic growth recovering to the industry average after the 2008-09 financial crisis and exceeding industry growth since 2015.
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