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Within the past month, there has been a bullish uptick in interest among financial analysts following the ad industry. Prudential Financial and SoundView Technology Group have initiated coverage of the sector, betting that ad stocks will fare better than the broader market as the industry recovers from its three-year slump.
“We believe the advertising-agency group will outperform the S&P 500 during the next 12 to 18 months on accelerating earnings momentum from multiple growth currents,” wrote Joseph Stauff, an analyst at SoundView, in his initial research two weeks ago.
Stauff expects the ad industry will enjoy above-average growth during the next three to four years as marketers increase spending from recessionary levels, with the largest agencies benefiting from market-share gains that were accelerated during the recession.
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