Deutsche Bank Upgrades Hewitt Associates (HEW) to Buy; Valuation attractive for its Steady Profit Growth
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Deutsche Bank upgrades Hewitt Associates (NYSE: HEW) to Buy. Price target increased from $35 to $55.
Deutsche analyst says, "We are raising our 1Q EPS from $0.78 to $0.80, and FY10 (YE Sep) from $2.90 to $3.02 (+4%). We think earnings will move higher as the year progresses as revenue growth rebounds and HEW delivers on the operational turnaround within HR BPO and consulting sees a cyclical rebound. At 12.7x cal10 EPS (11.4x P/FCF) we think stock is cheap for a company that can deliver 15% EBIT in FY10E after 25% in FY09."
To see more analyst ratings on HEW Click Here.
Hewitt Associates, Inc. provides human resource benefits, outsourcing, and consulting services primarily in the United States and the United Kingdom.
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