Barclays analyst Manav Patnaik upgraded ManpowerGroup (MAN) to Overweight from Underweight with a price target of $112, up from $85. The analyst also keeps an Underweight rating on shares of Robert Half (RHI). The analyst finds the near-term risk/reward in Europe appealing. The "hyper-cyclical" staffing names continue to be viewed as a macro call, and given questions around each's key markets, taking a shorter term view is prudent, Patnaik tells investors in a research note. Even after ManpowerGroup's strong run in 2019, the analyst sees enough upside to upgrade to Overweight.
Notable gainers among liquid option names this morning include Robert Half (RHI) $93.74 +7.24, Moderna (MRNA) $335.53 +11.96, American Express (AXP) $176.59 +5.69, Facebook (FB) $361.15 +9.91, and PerkinElmer (PKI) $163.26 +3.20.
Truist analyst Tobey Sommer raised the firm's price target on Robert Half to $100 from $85 and keeps a Hold rating on the shares. The company reported a "very strong" set of Q2 results and guided Q3 ahead of estimates amid improving small-to-medium business trends that boosted staffing demand, the analyst tells investors in a research note. Sommer adds that Robert Half's Protiviti segment continues to impress and its gross margins are tracking ahead of pre-COVID levels.