BMO Capital Sees No Near-Term Positive Catalyst For Monster Worldwide Shares

BMO Capital downgraded Monster Worldwide, Inc. MWW to Market Perform from Outperform and lowered the price target from $4 to $3.

In a report published Monday, the analysts stated their concerns about the overall U.S. hiring rate in the second quarter of this year, despite the apparent rebound in June. Moreover, Monster has a sizable U.K./European exposure compared to other U.S.-centric staffing companies covered by them, where Brexit poses considerable risks for the company.

"While we admit this call is late given the underperformance of this stock for some time, we do not a see a near-term catalyst to move it in the right direction, other than speculation of going-private/being acquired, which is not a good enough reason to keep recommending this name, in our view," wrote BMO analysts.

Shares traded recently at $.257, down 1.5 percent.