Market Overview

UPDATE: Deutsche Bank Raises PT on TrueBlue on Upside to Consensus Expectations

Related TBI
Mid-Afternoon Market Update: eBay Rises On Earnings Beat; Envision Healthcare Shares Dip
Baird Raises TrueBlue To Outperform, Cites 'Turn In Execution'

In a report published Friday, Deutsche Bank analyst Paul Ginocchio reiterated a Buy rating on TrueBlue (NYSE: TBI), and raised the price target from $28.00 to $29.00.

In the report, Deutsche Bank noted, “While we assume that Buy-side expectations are ahead of the Sell-side, we think the significant rise to consensus EPS over the coming six months will be positive for the share prices of both MAN and TBI. We believe both stocks can hold their mid-cycle multiples for at least another year. We primarily use midcycle multiples and ‘14E EPS (ex amort) to arrive at our updated target prices. See pages 35 to 39 for our complete valuation and risk. Key risks for the staffing stocks include a US Gov't shutdown or debt ceiling issue which causes real harm to the US economy, global macro data that weakens instead of improves, no expansion in gross margins as expected, and higher cost growth than expected.”

TrueBlue closed on Thursday at $24.47.

Latest Ratings for TBI

Oct 2015BairdUpgradesNeutralOutperform
Oct 2015Deutsche BankDowngradesBuyHold
Jul 2015BairdMaintainsNeutral

View More Analyst Ratings for TBI
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Paul GinocchioAnalyst Color Price Target Analyst Ratings


Related Articles (TBI)

View Comments and Join the Discussion!

Get Benzinga's Newsletters