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Fly News Breaks for January 3, 2019
RHI
Jan 3, 2019 | 09:10 EDT
As previously reported, BofA/Merrill analyst Gary Bisbee downgraded Robert Half to Neutral from Buy as he believes cyclical concerns and tougher comps will make it difficult for the stock to outperform in the near-term. While the analyst expects the company to deliver solid growth in 2019 if the U.S. economy grows 2% or better, revenue growth is likely to decelerate in the next few quarters as Robert Half faces sharply more difficult comps. Bisbee also believes that valuation is likely to remain depressed amid cyclical growth concerns and the length of the cycle. Additionally, the analyst lowered his price target on the shares to $63 from $75.
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