FBR Capital Downgrades Monster Worldwide (MWW) to Market Perform

FBR Capital downgraded Monster Worldwide (NYSE: MWW) from Outperform to Market Perform with a price target of $3.50 (from $8.00).

Analyst William Bird commented, "We are downgrading MWW to Market Perform from Outperform. Our new price target is $3.50 (previously $8). The rising tide of employment growth is no longer lifting all boats. At the midpoint of 2016 guidance, MWW is trading at 4.8x 2016E EBITDA, a valuation at which we believe the stock is not mispriced. Given employment market volatility, structural headwinds, and the still-small and nascent stage of new growth initiatives, we believe MWW’s stock is not likely to outperform."

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

Shares of Monster Worldwide closed at $4.26 yesterday.

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