Deutsche Bank Cuts Estimates and Price Target on Manpower Inc. (MAN); Shares Still Attractive Despite European Woes

Deutsche Bank reiterates a 'Buy' on Manpower Inc. (NYSE: MAN) price target of $48.00 (from $55.00).

Analyst, Paul Ginocchio, said, "We are now modeling a mild European recession through 4Q12 and have pushed out the recovery until 1H13. Our 2012E EPS declines -29% from $3.12 to $2.21 (Street $2.95) while our 2013E EPS declines -32% from $4.10 to $2.80 (Street $3.65). With the stock down 23% since late March, we think this is already priced into the shares."

For an analyst ratings summary and ratings history on Manpower Inc. click here. For more ratings news on Manpower Inc. click here.

Shares of Manpower Inc. closed at $35.77 yesterday.

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