UPDATE: Wells Fargo Securities Upgrades On Assignment on Good Market Position

In a report published Thursday, Wells Fargo Securities analyst Ed Caso upgraded the rating on

from Market Perform to Outperform. In the report, Wells Fargo Securities noted, “We believe On Assignment is well positioned for above-market growth and gross margin due to its focus on the attractive IT (80-85% of revenue) and healthcare and life sciences (15-20% of revenue) markets. We see the potential for steady EBITDA margin expansion over time given extension of permanent placement work and systems integration.” On Assignment closed on Wednesday at $36.85.