Publicis shares were one of the CAC 40's biggest risers on Monday, following a target upgrade by BofA, which made the advertising and communications agency its preferred stock in the European sector.

At 3:45 pm, the share gained 0.6%, clearly outperforming the Paris Bourse's leading index (-0.2%). At the same time, the STOXX media index gained 0.3%.

According to Bank of America teams, Publicis - on which they have a buy recommendation - has the strongest prospects in the sector.

We believe that Publicis, our 'top pick', will deliver the most promising targets, given its particularly flexible cost base and low level of debt", explains the research firm in a note.

BofA is therefore raising its price target on the stock from €80 to €82.

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