---
title: "研究警报：CFRA 维持对 WPP 美国存托凭证的持有评级 - 第一季度表现疲软，预计下半年将复苏"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/285073681.md"
description: "CFRA 对 WPP 维持持有评级，此前 2026 年第一季度的净同类收入下降了 7%，降至 20 亿英镑，符合预期。下降的原因归因于客户流失和谨慎的支出，预计 2026 年下半年随着新业务的增加将会恢复。全球综合代理机构下降了 7%，而公共关系和专业代理机构则表现出更强的韧性。2026 年的收入预测仍为 138 亿英镑，2027 年为 140 亿英镑，预计每股收益为 3.20 英镑和 3.25 英镑。前景取决于新业务和客户支出的稳定"
datetime: "2026-05-04T12:15:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285073681.md)
  - [en](https://longbridge.com/en/news/285073681.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285073681.md)
---

# 研究警报：CFRA 维持对 WPP 美国存托凭证的持有评级 - 第一季度表现疲软，预计下半年将复苏

08:15 AM EDT, 05/04/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

WPP's ( WPP ) Q1 2026 net like-for-like (LFL) revenue declined 7% Y/Y to GBP2B, broadly in line with expectations and representing 23% of full-year forecasts, consistent with historical seasonality. The decline reflects prior client losses and cautious client spending, with management guiding for a mid- to high-single-digit decline in 1H 2026 and recovery in 2H 2026 as new business ramps. Global Integrated Agencies remained the key drag, down 7% Y/Y, led by WPP Media (-9% Y/Y), although trends improved sequentially from Q4, indicating early stabilization. Public Relations (-3% Y/Y) and Specialist Agencies (-2% Y/Y) were more resilient, supported by stronger new business in North America and stable niche demand. We maintain 2026 revenue at GBP13.8B and 2027 at GBP14B, and EPADS at GBP3.20 and GBP3.25, reflecting near-term margin pressure from operating deleverage and incentives, with recovery dependent on new business conversion, cost actions, and stabilization in client spending. We keep our Hold rating.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

### 相关股票

- [WPP.US](https://longbridge.com/zh-CN/quote/WPP.US.md)
- [WPP.UK](https://longbridge.com/zh-CN/quote/WPP.UK.md)

## 相关资讯与研究

- [英国政坛 “黑马” 吓坏市场？对冲基金重仓做空英镑，看跌期权成交量暴增](https://longbridge.com/zh-CN/news/286722443.md)
- [英国央行陷入 “进退两难” 死局：加息无力，降息不敢，英镑溢价正被无情挤压](https://longbridge.com/zh-CN/news/287043113.md)
- [保诚 5 月 18 日斥资 285.8 万英镑回购 25.28 万股](https://longbridge.com/zh-CN/news/286887861.md)
- [5.15% 收益率失效？英镑深陷 “高息陷阱”！3 大隐患曝光](https://longbridge.com/zh-CN/news/286774876.md)
- [英前卫生大臣提议大幅上调资本利得税](https://longbridge.com/zh-CN/news/287178553.md)