Omnicom down after Q1 revenue miss, MoffettNathanson cuts PT

Shares of advertising and marketing firm Omnicom Group OMC.N down 5.1% after missing Q1 revenue estimates

OMC posts Q1 revenue of $3.69 bln compared with analysts' estimates of $3.72 bln, according to data compiled by LSEG

Brokerage MoffettNathanson reduces PT to $85 from $92; reiterates "neutral" rating

"Over 20 years of history covering this group has firmly convinced us that no one in Agency-land sees the storm coming until the rain is pouring in front of us" - MoffettNathanson

Brokerage, however, says ad agencies typically limit earnings damage during recession through flexible cost structures

Current average analyst rating on shares is "buy", with 8 rating "strong buy" or "buy", 3 "hold" and 1 "sell" - LSEG

Including today's session, OMC down 15.1% YTD