IPG: Good 2016 Prospects Continue --  Pivotal Research

BOTTOM LINE: IPG reported 1Q16 earnings with +6.7% organic revenue growth, which was above ours and consensus expectations. Margins were also favorable vs. expectations as the company posted a year-over-year gain of 70bps in the quarter. We continue to rate IPG Buy and maintain our YE2016 price target of $26.