---
title: "研究警報：CFRA 維持對 WPP 美國存託憑證的持有評級 - 第一季度表現疲軟，預計下半年將復甦"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/285073681.md"
description: "CFRA 對 WPP 維持持有評級，此前 2026 年第一季度的淨同類收入下降了 7%，降至 20 億英鎊，符合預期。下降的原因歸因於客户流失和謹慎的支出，預計 2026 年下半年隨着新業務的增加將會恢復。全球綜合代理機構下降了 7%，而公共關係和專業代理機構則表現出更強的韌性。2026 年的收入預測仍為 138 億英鎊，2027 年為 140 億英鎊，預計每股收益為 3.20 英鎊和 3.25 英鎊。前景取決於新業務和客户支出的穩定"
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)
---

# 研究警報：CFRA 維持對 WPP 美國存託憑證的持有評級 - 第一季度表現疲軟，預計下半年將復甦

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.

### 相關股票

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

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