Aegis Stock Soars After Bank Dubs it ‘Attractive Target’

02 July 2002

Media planning/buying and market research conglomerate Aegis Group, holding company for the Carat network, saw its share soar Monday after its stock was upgraded by Commerzbank, which also described it as “an attractive acquisition target”.

Opined the bank in its report on the British advertising market: “The scarcity value of Aegis offers a very attractive acquisition target for one of the main industry players looking to strengthen its media-buying operations.”

Which pronouncement, of course, is singularly lacking in the 'wow' factor to WAMN readers – but offers credibility to the credulous when voiced by one of the banking bookies.

Shares in Aegis rose by £0.05 (5.63%) to £0.9375 ($1.43; €1.45) Monday, opening down this morning (Tuesday) by a marginal half-penny.

Data sourced from: BrandRepublic (UK); additional content by WARC staff