UPDATE: Bank of America Reiterates Buy Rating, Raises PT on Robert Half International Following Strong 2Q

In a report published Wednesday, Bank of America analyst Sara Gubins reiterated a Buy rating on

, and raised the price target from $55.00 to $56.00. In the report, Bank of America noted, “Shares of RHI are up 15% YTD, with investors anticipating improving trends. These came through in 2Q, and we expect further 2H acceleration. Our $56 price objective is based on 21x (unchanged) 2015E EPS of $2.64, in line with RHI's 21x ten-year median forward P/E and compared to our forecasted 20% 2013-2016E EPS CAGR.” Robert Half International closed on Tuesday at $48.20.