1136 GMT - Publicis is likely to adopt a cautious stance for 2026, Morgan Stanley analysts write in a note. The French advertising company's coming fourth quarter results are seen as neutral, given that Publicis typically issues conservative guidance at the start of the year, they say. The analysts expect guidance to imply a deceleration in growth, which might be viewed negatively amid broad market concerns about potential AI-driven disruption to advertising agencies. However, guidance for margin expansion should offset some of the potential disappointment around growth guidance, they add. The U.S. bank expects Publicis to guide cautiously for 2026, implying 4-5% organic growth, but sees scope for beat and upward revisions over the course of the year. Shares are down 1.4% at 85.06 euros. (najat.kantouar@wsj.com)

(END) Dow Jones Newswires

January 19, 2026 06:37 ET (11:37 GMT)

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