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BUZZ-WPP: Investec cuts to "sell" due to pressure on traditional media

Reuters - UK Focus

** Investec (LSE: INVP.L - news) downgrades WPP (Frankfurt: A1J2BZ - news) to "sell" due to pressure from clients on traditional media

** WPP on Thursday reported its worst annual sales performance since the global financial crisis

** Investec sees traditional media losing a share of what their clients spend, "whether to digital platforms, smaller, more agile players and/or consultants"

** Sees (Shanghai: 600481.SS - news) the change reflected in co's lower long-range earnings per share growth target, in contrast with global ad growth of 3 to 4 pct

**5-Star rated analyst Steve Liechti also sees WPP at more risk than peers due to a lack of net business wins in Q4