From Cazenova just now .... DYOR .... but quick :)

WPP - upgrade to OUTPERFORM - interims due 26 Aug which we expect to be strong, reflecting gd Q2 fig's already reported by peers. We see potential for EPS upgrades of up to 5%-10% N/T (combination of top line, margin & US$). L/T we expect EPS growth of up to 17%-18% pa before maturing at 11%-12% pa. Key risks are (1) further M&A (2) prem valuation (17.1x 06 EPS before any upgrade), representing a 31% prem to UK mkt & 33% to UK media sector. Despite this we still believe it has room to outperform. Our DCF valuation gives 760p, 28% upside from here.

Daws Hi,

Your right about the buyback, although I think the bounce actually happened this afternoon :)

Cheers,
PM

Don't know what that chart is all about, but the stock closed at 572/573. Hardly a bounce, more like a twitch.
Still in, (fool that I am!) and hoping for better things.

pth

PTH Hi,

The bounce at 3:45 looks like the one to me, we will see tomorrow I hope :)

Cheers,
PM

Pth - lol! 3 fools we could start a club...

Hey hoe people! More good news me thinks, Australia is one of the faster growing areas in communications services. Along with buying our own shares back yesterday, the deal with Abacus, the deal today and a cracking set of results we should be seeing a lot more blue... (famous last words).

Daws




WPP Group PLC
01 September 2005


For Immediate Release 1 September 2005

WPP GROUP PLC ('WPP')

Acquires outstanding 70% of TCG in Australia

WPP announces that it has acquired the remaining 70% of the issued share capital
of The Communications Group Holdings Pty Ltd ('TCG'), the third largest
advertising and marketing services company in Australia.

TCG's businesses include George Patterson Partners, Zenith Media, Ideaworks,
Professional Public Relations, Media Puzzle, Generator Bates NZ, HMA Blaze,
Underline Fitch, 20/20 Brand Action and Patts Digital. TCG's clients include
major Australian brands and companies in the financial, fmcg and services
sectors.

TCG reported revenues of A$131 million for the year ended 30 June 2005 and had
consolidated net assets of A$16.6 million at that date.

The various TCG businesses will be integrated into Young & Rubicam Brands in
Australia, with Zenith Media joining WPP's GroupM network.

Young & Rubicam Brands businesses include Y&R, The Campaign Palace/Red Cell,
Burson-Marsteller, Landor and Sudler & Hennessey. Young & Rubicam Brands clients
include leading Australian corporations, Government organisations and blue chip
multi-national companies.

This investment reinforces WPP's comprehensive communications services offer and
continues the Group's strategy of developing its networks in important and
faster growing sectors and markets.

For further information please contact:

Feona McEwan 44-20 7408 2204
WPP London

Hamish McLennan
Young & Rubicam, Sydney 612- 9931 6035
61 410 501 005




This information is provided by RNS
The company news service from the London Stock Exchange

Seems like nothing is going to stop the slide in this pile of shite Daws. Lost count how many consecutive red days we have had since the results. Or did we have a 1p rise yesterday? Won't be long before it's lost 10% of its value in just two weeks.
Bet you can't tell I'm pissed off!

pth

Best thin to do is short it! Bound to reverse then.

Pth,

know what u mean, my postions is looking porley at the mo. Looking back, it would of been a wise move to sell out on results day. On the positive side we've not had any bad news, we've actually had 4 bits of good news since! I'm still prepared to sit on these for a while as i don't see any reason for the slump...

Daws

The buy back continues...

WPP Group PLC
01 September 2005



WPP GROUP plc ("WPP")





WPP announces that on 1 September 2005 it acquired 500,000 of its own ordinary
shares of 10p each for cancellation. The shares were acquired at a price of
571.1265p per share.


This information is provided by RNS
The company news service from the London Stock Exchange

Another crap day! more shares bought back though.

WPP Group PLC
02 September 2005



WPP GROUP plc ('WPP')





WPP announces that on 2 September 2005 it acquired 500,000 of its own ordinary
shares of 10p each for cancellation. The shares were acquired at a price of
564.2709p per share.


This information is provided by RNS
The company news service from the London Stock Exchange

Hi All,

Cazenova sent out a note today, saying they expect underperformance of the share price to reverse very quickly.

I know all analysts don't concur on this one, but the value IS there, it's just a case of waiting for the market to realise it.

Cheers,
PM

Well, at least the bugger stopped going backwards today!

WOW - up over 1 % i'm starting to feel light headed lol

Well folks, thats me out! If i had the time to wait i'm sure wpp would get back up to the 600 mark in the coming weeks. Have re used cash to fund a more risky punt, in PET.

Best of luck,

Daws

Daws Hi,

Might be an 'oooops' from you soon ....

Morgan Stanley has upgraded its rating for WPP Group to overweight from equal-weight with a 625p price target, raising estimates.

Cheers,
PM

'bout time this dawg started going in the right direction again. Hope it can maintain the rise tomorrow.

pth

Hi Paul, good luck with wpp. Happy to of moved into pet after todays close, any one who continues to short it must be bonkers! wpp is solid investment in my eyes and i'm sure you guys will be back up to the 600 mark in no time.

daws

daws

I think you made the right call on this one. For a FTSE stock WPP really is a waste of investment time.

pth

Here's a preview of what is going to appear in The Business tomorrow:

October 02, 2005



SIR Martin Sorrells WPP has underperformed its main agency rival Publicis by 10% this year and as a result now trades on lower valuations than all of its peer group.

This is interesting at a time when growth looks set to accelerate over the next three years at a top line level and enhanced by more margin benefits from the integration of Grey Global.

Agencies are well placed, and have the benefit of two secular trends.

Firstly, there is strong growth in global advertising, with an accent on south-east Asia and those markets associated with China in particular.

Secondly, there is strong growth in internet related advertising compared to traditional media. Of the big agencies, WPP has the highest exposure to both.

In addition, WPP has momentum in its business. In the first half results net new billings rose by $3.5bn, with $1.9bn in the second quarter alone, from clients such as Time Warner, Shell and Sony.

WPPs management now presents its analysis of the industry as advertising working in four-year cycles.

It is interesting to note chief executive Sir Martin Sorrells view on the current cycle: 2004 marked the full recovery from the internet bust of 2000.

It was WPPs best year ever. 2005 is showing more improvement and in theory it is the weakest year of the 2005-08 period.

This is because 2006 sees the mid-term United States congressional elections, the World cup and the Winter Olympics.

The big year, 2008, has the Beijing Olympics and the European football championships.

Obviously there are risks. Investors are perennially concerned about the outlook for consumer-based advertising and a slowdown in the global economy in general, affecting the spending intentions of WPPs clients.

In addition, there is pressure on pricing across the industry from powerful clients now scrutinising the purchase of marketing services more closely.

But the powerful industry trends leading to accelerating growth, combined with a discount valuation, should ensure that WPP is a company worth keeping a close eye on in the next 18 months.

poor neglected WPP!
Today's figures were really quite good and, from memory, Merrill repeated its buy recommendation.
Though sp is very close to the 52-week high, i think i MAY concur but would appreciate views from others