UPDATE: Bank of America Merrill Lynch Reiterates Buy Rating, Raises PT on Resources Connection

In a report published Wednesday, Bank of America Merrill Lynch reiterated its Buy rating on Resources Connection

, and slightly raised its price target from $15.00 to $16.00. BofA Merrill Lynch noted, “Our Buy rating is based on a continued slow-paced US economic expansion. RECN should continue to show overall margin expansion. We also argue RECN will continue to gain market share from the Big Four accounting firms by providing experienced professionals at a lower bill rate.” Resources Connection closed on Tuesday at $13.25.