UPDATE: Jefferies Reiterates Buy Rating, Raises PT on On Assignment Following 3Q Results, 4Q Guidance

In a report published Thursday, Jefferies analyst Dan Dolev reiterated a Buy rating on

, and raised the price target from $36.00 to $39.00. In the report, Jefferies noted, “Yesterday, after the market closed, On Assignment reported 3Q results and provided 4Q guidance. As we expected, accelerating Apex growth (+21.6% vs. +19.8% in 2Q) helped drive yet another strong quarter, driving a ~6% beat to the high-end of EPS guidance. Buoyant commentary about the state of the IT markets exiting 3Q bodes well for ASGN's growth trajectory. Reiterate BUY. Increase PT from $36 to $39.” On Assignment closed on Wednesday at $34.45.