Deutsche Bank Downgrades SFN Group (SFN) to Hold; No Other Likely Bidders

Deutsche Bank downgraded SFN Group (NYSE: SFN) from Buy to Hold with a price target of $14 from $17.

Deutsche analyst says, "After speaking with private equity and M&A contacts in the staffing sector, we are now more confident that Randstad's bid will not be topped by a private equity bidder. We also continue to think there are no other strategic buyers. While SFN shareholders may argue for a higher offer from Randstad, the lack of a competing offer makes that a tough argument to win. Also, the SFN CEO's 5.0% block of shares is one of the larger blocks held.

For more ratings news on SFN Group click here and for the rating history of SFN Group click here.

Shares of SFN Group closed at $13.93 yesterday.

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