Interpublic Group today touched its 52-week high of $18.91, continuing its bullish run since April.
Zacks.com counts Weber Shandwick’s acquisition of Sweden’s Prime among IPG's "growth drivers."
Announced May 6, the deal is Weber Shandwick's largest since the firm’s launch in 2001.
The 130-member staffer firm, renowned for its creativity, serves clients such as Ericsson, IKEA, Electrolux, the city of Stockholm and Civil Rights Defenders.
WS CEO Andy Polansky called Prime a leader as the communications sector "transforms with an exacting focus to provide integrated, creativity-led concepts across platforms."
Zacks believes the Prime pick-up, which includes its United Minds business intelligence unit, is expected to drive innovation and improve client service.
IPG spends about $150M a year on acquisitions.
Noting IPG’s upbeat performance, Argus raised its stock price target to $22 from $20.
The stock’s 52-week low is $13.67.