1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Stewardship
PREMIUM
WPP posted first-half results ahead of FactSet consensus estimates as the impact of COVID-19 was slightly less than expected. We are maintaining our GBX 1,300 fair value estimate. While this narrow-moat name is up more than 6% in reaction to its first-half results, it remains attractive, trading at only 0.5 times our fair value estimate.
Headquartered in the U.K., WPP is the world’s largest ad holding company, based on annual revenues. WPP's services, which include traditional and digital advertising, public relations, and consulting, are provided worldwide, with over 70% of its revenue coming from more developed regions such as the North America, U.K., and Western Europe.
