ManpowerGroup Stock Slips After Double Downgrade At Barclays
- Barclays analyst Manav Patnaik double downgraded ManpowerGroup Inc. (NYSE:MAN) to Underweight from Overweight and lowered the price target to $120 (implying an upside of 9.16%), from $140.
- The company recently announced the acquisition of ettain Group, a privately-held IT resourcing and services provider, for $925 million.
- ManpowerGroup anticipates the acquisition to be accretive to 2021 and 2022 EPS, excluding one-time and integration costs.
- Price Action: MAN shares are trading lower by 5.89% at $110.22 on the last check Friday.
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