Why Stagwell Stock Leaped Almost 11% Higher Today
Next-generation marketing company (NASDAQ: STGW) was a double-digit winner of a stock on Monday. After getting a serious boost from an analyst at a prominent investment bank, investors piled into the shares, to the point where they closed the day nearly 11% higher in price. That was more than good enough to trounce the S 500 index's 0.4% increase.
That prognosticating investment bank was none other than Goldman Sachs. Analyst Brett Feldman initiated coverage of Stagwell stock with an unhesitant buy recommendation, at a price target of $12 per share. That implies a very substantial potential upside of 46% on its current price.
In his view, Stagwell is in a fine position to reap the benefits of a rise in the popularity of cutting-edge advertising solutions. He wrote that the company "is well positioned to benefit from long-term secular growth in global digital advertising and marketing spend."
Source Fool.com
