Analysts Set Sights Higher for Omnicom As It Surges On

In the wake of a June 12, 2002, Wall Street Journal story raising questions about Omnicom Group’s accounting practices, the holding company’s stock was trading in the low $40s. Last week, as the stock fetched nearly twice that amount, Wall Street set its sights even higher for Omnicom.

In a research update issued last Tuesday after meeting with Omnicom CEO John Wren, Merrill Lynch analyst Lauren Rich Fine, who has championed Omnicom stock throughout the volatil-ity of the last year, set a 12-month price objective of $85 for the stock.