Shares of Stagwell (NASDAQ: STGW) are up 11.5% as of 3:45 p.m. ET Friday after Craig-Hallum analyst Jason Bagwell initiated coverage on the marketing and communications company with a buy rating.

In a note to clients Friday morning, Craig-Hallum analyst Jason Kreyer assigned a buy rating to Stagwell with an $8-per-share price target on the stock -- a 76% premium from Stagwell's current price of around $4.56 per share even after today's pop. Kreyer elaborated that Stagwell appears to be "poised for upside with unprecedented opportunities forthcoming."

Kreyer isn't alone in this thinking. Earlier this year, Goldman Sachs' Brett Feldman argued Stagwell is positioned to benefit from longer-term secular-growth trends and marketing spending, with potential for accelerated organic growth relative to the broader market given its low market share and its digital-first approach.

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Source Fool.com