Credit Suisse Downgrades Robert Half (RHI) to Underperform
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Credit Suisse downgraded Robert Half (NYSE: RHI) from Neutral to Underperform with a price target of $33.00 (from $37.00) citing a poorer mix and limited catalysts versus peers.
Analyst Anjaneya Singh commented, "With RHI being relatively much less exposed to early cycle geographies (like MAN), and more resilient verticals such as technology (a la KFRC), we see fewer catalysts and more downside risk in a slowing labor market. We reduce our FY17 EPS from $3.02 to $2.90, and reduce our TP from $37 to $33 (based on ~12x PE, discounted back slightly)"
Shares of Robert Half closed at $37.86 yesterday.
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