Manpower Inc. (MAN) PT Lowered to $129 at BMO Capital

BMO Capital analyst Jeffrey Silber lowered the price target on Manpower Inc. (NYSE: MAN) to $129.00 (from $139.00) while maintaining an Outperform rating.

The analyst commented, "3Q21 results were slightly better than expected on margins and below the line items while revenues disappointed. Management cited a slowdown in momentum owing to the supply chain issues and the Delta variant's impact on the labor supply. While it believes these headwinds are largely transitory, we think they may take some time to recover. 4Q21 guidance was below Street estimates causing the stock to fall ~6% on the print. We lower our estimates and target, though maintain our Outperform rating as investors look toward a 2022 European recovery."

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