Deutsche Bank Upgrades TrueBlue (TBI) to Hold
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Deutsche Bank upgraded TrueBlue (NYSE: TBI) from Sell to Hold with a price target of $18 (unchanged). Analyst Kevin McVeigh sees several positives.
"We are tactically upgrading shares of Trueblue to Hold from Sell given (1) current risk-reward of +3%/-1% + (2) potential for fiscal stimulus + corporate tax reform, both of which could boost GDP well beyond our ~2% base level. Since August, the TBI stock has fallen ~25% versus S&P 500 falling ~2%. While we recognize that Trueblue continues to face company-specific challenges, we feel the TBI stock is closer to fair value. As a result, we move to Hold from Sell, but maintain our $18 PT," said the analyst.
Shares of TrueBlue closed at $17.45 yesterday.
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Related EntitiesDeutsche Bank, Standard & Poor's
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