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Fly News Breaks for December 28, 2017
RHI
Dec 28, 2017 | 05:26 EDT
Deutsche Bank analyst Kevin McVeigh raised his price target for Robert Half to $65 to reflect the benefits of President's Trump tax reform. The company expects its 2018 tax rate to be between 26% and 28%, below the analyst's previous estimate of 37.5%, which implies an additional 55c to earnings per share next year. Besides the one-time, non-cash deferred tax asset charge, the company reaffirmed its Q4 guidance last night, McVeigh tells investors in a research note. The analyst calls his new price target conservative and he keeps a Buy rating on Robert Half.