Berenberg initiated coverage of Ipsos shares on Thursday with a Buy recommendation and a price target of 89 euros, believing the market research specialist to be 'undervalued' on the stock market.

In a research note, the analyst praises the unique positioning of the company founded in 1975 by Didier Truchot, thanks to its multi-sector expertise and diversified skills.

We believe that Ipsos is ideally placed to consolidate its leadership in the sector, while benefiting from structural improvements in profitability", adds the financial intermediary.

From Berenberg's point of view, the weakness that hit the stock following its first-quarter results is an interesting entry point for the stock.

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