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Fly News Breaks for December 29, 2017
ASGN
Dec 29, 2017 | 05:55 EDT
Wells Fargo analyst Ed Caso raised his price target for On Assignment to $71 citing benefits from U.S. tax reform and a "continued positive business backdrop." The analyst sees an approximately 20% lift in pro forma earnings given the near marginal U.S. federal tax rate historically paid by the company and the fact that its revenue is essentially all U.S. based. Caso sees a greater likelihood of positive quarterly earnings surprises and remains comfortable with an Outperform rating on On Assignment.
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