UPDATE: Bank Of America Reiterates On Assignment Following 2Q EPS Report

In a report published Thursday, Bank of America analyst Sara Gubins reiterated a Buy rating on

, but lowered the price target from $42.00 to $41.00. In the report, Bank of America noted, “2Q EPS from continuing ops. of $0.38 was $0.01 above the high end of guidance & $0.02 above our forecast and consensus. Revenue was just under the low end of the guidance range, +8.6% YoY pro forma. Management maintained its 2014E EPS outlook, but revenue is expected to be 110bp below the mid-point of prior guidance. Demand trends for ASGN's IT business (82% of revenue) are weaker than forecast near-term, though ASGN is optimistic that this will be relatively short lived.” On Assignment closed on Wednesday at $34.90.