Broker snap: Mixed views on WPP

24th Aug 2009 12:54

Advertising group WPP was the top performing blue-chip on Monday despite expectations that Wednesday's interim results will see a decline in like-for-like sales of around eight or nine per cent in the second quarter.The share price was boosted by Deutsche Bank issuing a 'buy' recommendation. The bank was previously neutral on the stock.In contrast, Jefferies International is a seller of the shares. The broker notes that the advertising sector is traditionally one of the last to emerge from a recession.