SunTrust analyst Tobey Sommer lowered his price target on Korn/Ferry to $58 after its in-line Q4 results and below-consensus Q1 earnings and revenue guidance. The analyst notes that the sluggish demand in China and among industrial customers has caused some ripples in the supply chain staffing, also lowering his FY19 and FY20 EPS view by 17c and 36c to $3.51 and $3.69 respectively. Sommer maintains a Buy rating on Korn/Ferry stock longer term given the company's "transformation from purse-driven Executive Search towards an IP-driven Advisory and RPO business" and also notes that its current multiple of 8.2-times his forward EBITDA estimate is in line with its 3-year average and a discount to the industry's 11.3-times multiple.