UPDATE: Pivotal Research Group Downgrades Omnicom to Hold Post Share Price Run

Pivotal Research Group downgraded Omnicom (NYSE: OMC) from Buy to Hold and maintained a $61.00 price target.

Pivotal Research Group commented, "We are downgrading Omnicom from BUY to HOLD as the stock has risen substantially since our upgrade – the stock was trading at $47.80 in November and has held up in the high 50s since the company's most recent earnings call. Upside to our year end price target from current levels is now only 6%, rendering the stock a HOLD."

Omnicom closed at $57.02 on Wednesday.