Manpower Inc. (MAN) PT Raised to $41 at UBS Ahead of Q2 Earnings
UBS analyst Joshua Chan raised the price target on Manpower Inc. (NYSE: MAN) to $41.00 (from $33.00) while maintaining a Neutral rating.
The analyst commented, "We think the setup for MAN is mixed into earnings. On the one hand, core trends especially in the U.S. and France appear to be improving, and the recent move back into organic growth territory seems sustainable. This is encouraging from a cyclical perspective. On the other hand, we expect Q3 EPS guidance to possibly come in below the Street, impacted by a combination of non-core items including incremental FX headwinds, tax, and the Jefferson Wells divestiture (announced after last earnings). Shares have done well over the last several months on prospects of cyclical improvement, and while this seems warranted, a choppier Q3 guidance versus expectations could limit near-term stock upside in our view."