1218 GMT - WPP's Thursday share rally seems justified by the company's most encouraging update in around three years and the stock has room to recover as a turnaround program gains traction, Berenberg's Anna Patrice and Davide Amorim say in a research note. Recent account wins from clients like Estee Lauder, Jaguar Land Rover and Airbnb helped the London-based advertising group top industry rankings for net new business in the first half, the analysts say. Excluding the effect of assignment losses, its top line returned to growth last quarter, the analysts say. Moreover, its guidance seems to factor in a degree of caution and reinvestments in the business, rather than a structural deterioration, according to Berenberg. Potential additional asset sales don't seem reflected in WPP's share price, the analysts say. Shares fall 1.2%, but are still up 31% since the start of the week.