BMO Capital Reiterates Outperform on ManpowerGroup (MAN) Following Investor Meetings
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BMO Capital reiterated an Outperform rating and $81.00 price target on ManpowerGroup (NYSE: MAN) following recent investor meetings. management discussed updated market trends in each of its major segments. BMO believes the sector is still growing in Europe.
Analyst Jeffrey Silber commented, "Our recent investor meetings with management bolster our conviction in our thesis that MAN is benefiting from secular changes in many of its regions and that its relatively lower cost structure could drive higher incremental margins this cycle. With that said, we understand investor concern regarding the Brexit impact on its U.K. operations (and to a lesser extent, Europe), though we believe the stock's current discount more than reflects that."
Shares of Manpower Inc. closed at $69.52 yesterday.
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