Oddo BHF has reaffirmed its 'outperform' rating on Ipsos, a stock included in its list of European Midcap convictions, with a price target maintained at 70 euros, believing that the company will provide reassurance ahead of its half-yearly publication on July 25.

Expectations are low for first-half results", says the analyst, who also acknowledges "some uncertainties on the topline in the second half", but sees "confidence on margins".

"The Ipsos share has significantly underperformed since the beginning of the year and is trading on historically low valuation multiples", adds Oddo BHF, who also hopes for an accretive acquisition in the second half.

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