Manpower Inc. (MAN) PT Raised to $85 at BMO Capital

BMO Capital analyst Jeffrey Silber raised the price target on Manpower Inc. (NYSE: MAN) to $85.00 while maintaining a Market Perform rating following earnings.

The analyst commented, "Strong margins drove a narrow beat to consensus with revenues declining due to pronounced f/x headwinds (low single-digit growth organic constant currency [OCC]). While management highlighted select pockets of weakness (auto, construction), it was largely bullish on the labor market and talent shortages driving continued demand. By geography, growth was weak as anticipated in Europe while the Americas (mostly U.S.), and APME buoyed results. 3Q22 guidance broadly in line with expectations (which we note had fallen into this release) excluding continued f/x headwinds. We adjust our estimates and slightly raise our target price."

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