Loading...
Loading...
Bank of America maintained ManpowerGroup
MAN with a Neutral rating and raised the price objective from $55.00 to $58.00.
Bank of America said, "Management is making tough choices: cutting 9% of its global office count, 30% of corporate expense, offshoring IT, simplifying processes and shifting accountability back to branches. MAN is also shifting its revenue mix towards higher-value add, higher-margin services. We are impressed with MAN's actions. However, it is still dependent on global economic growth to reach its 4% EBITA margin target. YTD, trends are tracking to 1Q13 guidance of 6-8% YoY constant currency revenue declines. Europe remains in recession (~65% of revenue)."
ManpowerGroup closed at $53.63 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorPrice TargetAnalyst RatingsBank of AmericaHuman Resource & Employment ServicesIndustrials
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in