Wells Fargo Starts On Assignment (ASGN) at Outperform
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Price: $26.18 +0.73%
Rating Summary:
8 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
8 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade ASGN Now!
Wells Fargo initiates coverage on On Assignment (NASDAQ: ASGN) with an Outperform rating and a $22.00 price target.
On Assignment is a professional staffing provider focused on the IT and healthcare verticals. The recent acquisition of Apex Systems further increases ASGN's strong positioning in the attractive IT staffing market, noted the report, and analyts see potential as the acquisition integration progresses.
"ASGN operates only in the professional staffing market, placing higher-skilled and generally harder to find resources, which offers both better potential revenue growth opportunities and more attractive pricing and gross margin," said Edward S. Caso, Jr..
"In addition, given the weak current U.S. macroeconomic environment, we believe that client interest in making their models more flexible is rising, a benefit to the variable staffing model," he said.
Wells has a valuation range of $21-23 on On Assignment.
For an analyst ratings summary and ratings history on On Assignment click here. For more ratings news on On Assignment click here.
Shares of On Assignment closed at $16.18 yesterday, with a 52 week range of $6.27-$20.90.
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On Assignment is a professional staffing provider focused on the IT and healthcare verticals. The recent acquisition of Apex Systems further increases ASGN's strong positioning in the attractive IT staffing market, noted the report, and analyts see potential as the acquisition integration progresses.
"ASGN operates only in the professional staffing market, placing higher-skilled and generally harder to find resources, which offers both better potential revenue growth opportunities and more attractive pricing and gross margin," said Edward S. Caso, Jr..
"In addition, given the weak current U.S. macroeconomic environment, we believe that client interest in making their models more flexible is rising, a benefit to the variable staffing model," he said.
Wells has a valuation range of $21-23 on On Assignment.
For an analyst ratings summary and ratings history on On Assignment click here. For more ratings news on On Assignment click here.
Shares of On Assignment closed at $16.18 yesterday, with a 52 week range of $6.27-$20.90.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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