Jefferies Cuts Price Target on TriNet Group (TNET) After Updating Estimates

Jefferies maintained a Hold rating on TriNet Group (NYSE: TNET), and cut the price target to $14.00 (from $19.00), following the company's 4Q. Jefferies updated C16 revenues and adjusted EPS estimates for the company. New estimates are $622.7M for revenue, with an EPS of $1.18, vs. $638.4M/$1.22 before.

Analyst Jason Kupferberg commented, "Following Hold-rated TNET's C4Q15 earnings call yesterday, we are updating our C16 and C17 net revs/adj. EPS ests. We are also reducing our PT to $14, from $19 previously."

For an analyst ratings summary and ratings history on TriNet Group click here. For more ratings news on TriNet Group click here.

Shares of TriNet Group closed at $12.28 yesterday.

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