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Citigroup Inc. Shuffles Target Price & '10-'11 EPS Estimates for Interpublic Group of Companies, Inc. (C,IPG)

Written on Fri, 07/30/2010 - 3:30pm
By Chip Brian

Citigroup Inc. (NYSE:C) increased its target price from $8.75 to $10.25 on shares of Interpublic Group of Companies, Inc. (NYSE:IPG) Friday.
"While IPG posted a great quarter and the outlook is bright, much of this is likely priced into the stock after Thursday's 8.9% increase," wrote Citigroup's Leo Kulp, adding, "Furthermore, we remain skeptical on the overall strength of the
macro recovery."
Citigroup also upped its 2010 EPS estimate from $0.34 to $0.40 "on higher organic growth (4.6% from 0.7%) and better margins (8.5% vs. 8.1%)," continued Kulp. "2011 EPS estimate goes to $0.60 from $0.47."
SmarTrend is bullish on shares of Interpublic Group of Cos. and our subscribers were alerted to buy on July 29, 2010 at $8.84; the stock has risen 3.6% since the alert was issued.
Interpublic Group of Cos. is currently above its 50-day moving average (MA) of $7.87 and above its 200-day of $7.59.
In the last five trading sessions, the 50-day MA has climbed 0.29% while the 200-day MA has risen 0.46%.
Shares of the company are trading up 0.23% Friday afternoon at $9.18.


Company Information For: C

Contact Chip Brian
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