WPP Share News (WPP)

Nomura expects advertising giant WPP to cut its forecasts when it publishes its first half results on 24 August, but says that the markets have already anticipated this.The broker expects full-year organic growth to be 4.7%, and predicts that the company will give up on its 6% growth guidance."Given the uncertainty it would be wise not to be too specific about growth going forward until the situation is clearer," the broker said."However, looking at Sir Martin Sorrell's [chief executive] previous views at past results meetings and an interview given to the Sunday Telegraph (August 21st 2011), we are expecting the company's message to be that growth will be low in the US and Europe for the next couple of years, but the company is not planning yet for a double-dip recession."Nomura keeps its buy rating a 1,000p target price.Shares in WPP were down 0.76% to 585.5p at 12.08 on Monday. BC