Deutsche Bank Upgrades TrueBlue (TBI) to Hold

November 9, 2016 1:54 PM EST
Get Alerts TBI Hot Sheet
Price: $24.15 --0%

Rating Summary:
    1 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 3 | New: 2
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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.

For an analyst ratings summary and ratings history on TrueBlue click here. For more ratings news on TrueBlue click here.

Shares of TrueBlue closed at $17.45 yesterday.

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