UPDATE - UBS initiates coverage on Manpower Inc. (MAN) with a Buy; Attractive Valuation
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Price: $61.45 +1.17%
Rating Summary:
7 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - UBS initiates coverage on Manpower Inc. (NYSE: MAN) with a Buy. Price target $53.
UBS analyst said, "Approximately 65% of Manpower’s revenues are derived from Europe (37% from southern Europe incl. France), which presents a risk to earnings. However, we expect ‘12 revenue decline of (4)% in aggregate and (13)% in southern Europe to be milder than 2009’s experience given limited pricing downside and a lower starting point. Also, we anticipate only a modest operating margin compression (to 2.3% vs. 2.4% in ‘11 and 0.6% in ‘09) given less infrastructure build since ‘09."
"MAN benefits from increasing demand for flexible labor worldwide, especially given its exposure to less mature markets (e.g. parts of Europe, Asia). And, the company continues to shift its focus toward professional and IT temporary staffing, which we believe should support margin expansion over the long run."
To see more ratings on MAN, Click Here
UBS analyst said, "Approximately 65% of Manpower’s revenues are derived from Europe (37% from southern Europe incl. France), which presents a risk to earnings. However, we expect ‘12 revenue decline of (4)% in aggregate and (13)% in southern Europe to be milder than 2009’s experience given limited pricing downside and a lower starting point. Also, we anticipate only a modest operating margin compression (to 2.3% vs. 2.4% in ‘11 and 0.6% in ‘09) given less infrastructure build since ‘09."
"MAN benefits from increasing demand for flexible labor worldwide, especially given its exposure to less mature markets (e.g. parts of Europe, Asia). And, the company continues to shift its focus toward professional and IT temporary staffing, which we believe should support margin expansion over the long run."
To see more ratings on MAN, Click Here
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