Deutsche Bank Upgrades Manpower (MAN) to Buy; Valuation Call
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Deutsche Bank upgrades Manpower (NYSE: MAN) from Hold to Buy. Price target increased from $43 to $60.
Deutsche analyst says, "We think Manpower's relative valuation versus Robert Half (NYSE: RHI) and Adecco is attractive, particularly for what should be significantly better margins this cycle than last. Our price target of $60 is based mainly on our DCF analysis. It is also supported by our IRR analysis to mid-cycle share price estimate...We have lowered our '09 EPS from $1.22 to $0.62 (Street $0.58) and leave '10E EPS unchanged at $1.27 (Street $1.27)."
To see more analyst ratings on MAN Click Here.
Manpower Inc. operates within the employment services industry. The Company’s global network of nearly 4,400 offices in 82 countries.
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