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J.P. Morgan Overweight on Robert Half International


J.P. Morgan Chase & Co. is out with a research report on Robert Half International (NYSE: RHI) and it has an Overweight rating and a $40 price target on shares.

In a note to clients, J.P. Morgan Chase & Co. writes, "On Tuesday evening, professional staffer Robert Half reported 3Q11 EPS of $0.31, a $0.04 beat to our estimate. RHI continued to show double-digit y/y growth throughout all its business segments, reflecting still solid fundamentals in the US and Continental European flex staffing markets. Importantly, flex gross margins continued to soar (up ~150bps y/y), helped by on-going increases in RHI's bill rates. Mgmt also indicated a healthy revenue and margin outlook for 4Q11."

Shares of RHI lost 80 cents yesterday to close at $25.27.

Posted-In: J.P. Morgan Chase & Co.Analyst Color Price Target Analyst Ratings


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