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Fly News Breaks for October 22, 2018
MAN
Oct 22, 2018 | 06:45 EDT
JPMorgan analyst Andrew Steinerman downgraded Manpower to Neutral and lowered his price target for the shares to $82 from $120. The analyst says he "misjudged the magnitude" of the European softness for the company as its Q4 financial guidance suggests a down 2% year-over-year same day basis revenue decline. Further, Manpower's U.S. turnaround "seems to have hit a momentary pause with tighter recruiting conditions." The analyst prefers to move to the sidelines following the company's Q3 sales miss.
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