BMO Capital Raises Price Target on ManpowerGroup (MAN) Following 3Q Surprise
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
BMO Capital reiterated an Outperform rating on ManpowerGroup (NYSE: MAN), and raised the price target to $88.00 (from $81.00), following the company's 3Q earnings report. The "upside surprise" was boosted a bit by an $8 million non-recurring pension curtailment and property gains in Northern Europe. To date, the company has seen no meaningful Brexit impact on its UK business other than the currency impact from the decline in the British Pound vs. the U.S. dollar. 4Q EPS estimates were raised to $1.73 from $1.54. 2016 estimates were also raised to $6.14 from $5.83.
Analyst Jeffrey Silber commented, "We are raising our EPS estimates and target price following 3Q16's upside surprise and better-than-expected 4Q16 guidance. Management's 4Q16 outlook implies slightly accelerating growth in Europe with U.S. trends relatively stable; this geographic exposure differentiates this company from its U.S.-based peers, in our view."
Shares of Manpower Inc. closed at $79.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Cuts Price Target on Comtech Telecom (CMTL) to $16 Following 1Q
- Stifel Raises Price Target on Clean Harbors (CLH) to $60; Reiterates Buy
- lululemon athletica (LULU): Skeptics Are Quieter - Wedbush
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesBMO Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!