WPP "buy"

01/02/07 - Panmure Gordon & Co

LONDON, January 2 (newratings.com) - Analyst Alex DeGroote of Panmure Gordon reiterates his "buy" rating on WPP Group (WPP-GBX). The target price is set to 775p.

In a research note published this morning, the analyst mentions that the company’s share price is expected to appreciate through 2007 due to the expectations of the company posting a robust performance in 2008. WPP is expected to achieve 5% annual top-line organic growth in 2006-2007, while achieving peak organic growth in 2008, during the current ad cycle, the analyst says.