Top Stock to Buy #5 – Omnicom Group (OMC)
Omnicom Group (NYSE:OMC) is the owner of DDB, BBDO and TBWA global advertising agency networks, as well as over 100 marketing firms. The company is considered to be the bellwether of the international advertising business with global assets that are diversified across many industries. It has a history of steady earnings, reporting $3.61 in 2012, and with estimates of $3.99 for 2013 and $4.46 for 2014.
Following a deep “V” consolidation from September 12 to February 2013, the stock broke a double-top and ran from $55 to $58. It then developed a bull channel, breaking from its top in early May. The last bar on the chart shows a CBR buy signal on very high volume. This is a powerful indication that prices are headed higher. Buy OMC at the market price with a trading objective of $73.