Barclays Reiterates an 'Overweight' on Manpower (MAN); Additional Take on Good 3Q & 4Q Outlook

Barclays reiterates an 'Overweight' on Manpower Inc. (NYSE: MAN) price target of $60.00.

Barclays analyst says, "On Friday, ManpowerGroup posted strong 3Q'11 results with constant currency revenue/EPS +8.8%/+56% (and EPS nicely above expectations). While revenue deceleration occurred in most geographies, all segments (ex Right) grew y/y, and MAN guided for revenue growth and margin expansion for both 4Q'11 and 1Q'12."

"We find MAN attractive at 7.6x prior peak EPS and 11.7x/9.4x our 2012-'13 EPS estimates of $3.50/$4.32 and believe significant upside exists as earnings rebound over the next few years, even amid a weak economic environment."

For more ratings news on Manpower Inc. click here and for the rating history of Manpower Inc. click here.

Shares of Manpower Inc. closed at $40.82 yesterday.

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