Omnicom price target lowered to $79 from $81 at BofA

BofA analyst Adrien de Saint Hilaire lowered the firm’s price target on Omnicom (OMC) to $79 from $81 and keeps an Underperform rating on the shares. Visibility on the underlying operating trajectory has become “more challenging” following the acquisition of IPG, associated portfolio reshaping and an accelerated share repurchase program, says the analyst, who trimmed the firm’s core operating assumptions 1%-2%.