Stagwell's Advocacy Segment Set To Boost Total Revenue In Election Year, Says Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Laura Martin reiterated a Buy rating on Stagwell Inc. (NASDAQ:STGW) and raised the price target to $10 from $8. The analyst expects Stagwell's advocacy business segment to boost total revenue in the election year FY24 and sees lower risks of third parties selling shares.
June 13, 2023 | 6:41 pm
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Needham analyst Laura Martin raised the price target for Stagwell Inc. (NASDAQ:STGW) to $10 from $8, citing lower risks of third parties selling shares and a revenue boost from the advocacy segment in election year FY24.
The analyst's Buy rating and increased price target for Stagwell Inc. are based on the company's lower risks of third parties selling shares and the expected revenue boost from the advocacy segment in election year FY24. This positive outlook is likely to have a short-term positive impact on the stock price.
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