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Interpublic Group of Cos. is set to restore its profit margins as the economy recovers, a Deutsche Bank analyst said Thursday, upgrading shares to "Buy" from "Hold."

New York-based Interthe world's third-largest advertising and marketing conglomerate, has struggled in the first half of 2009 amid one of the worst advertising slumps in years, driven by weak spending from auto makers and events marketers. Sales in the April-June quarter were down 20 percent year-over-year, while earnings tumbled 76 percent.

In a note to investors, Deutsche Bank's Matt Chesler said the upgrade comes "on the back of an improved economic outlook and business momentum," assigning a $7 price target to the stock.

After a strong opening, the stock is currently trading at $6.49 moved up about 8.35% on over 4.61 million shares. In the last 52-week, the stock has been trading within a range of $2.57-$9.69.

About Interpublic Group of Companies

The Interpublic Group of Companies, Inc. is an advertising and marketing services company. The Company’s agency brands create marketing solutions on behalf of clients worldwide. Its companies cover a range of marketing disciplines and specialties, from consumer advertising and direct marketing to mobile and search engine marketing.

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