Randstad: Jefferies upgrades stock

(CercleFinance.com) - Jefferies has upgraded Randstad shares from 'Underperform' to 'Hold', with a TP maintained at E42 (cp: E46.
7, +3.8%), believing that there is no longer sufficient downside potential to justify a negative stance after the stock's recent underperformance.

"Job ads aren't improving in major labour markets and manufacturing PMIs remain weak, but Randstad and Manpower have highlighted sequential temp volume stabilisation in recent weeks", the broker notes.

Jefferies also points out that Randstad slightly increased its headcount in Q1 for the first time in six quarters. Nevertheless, it is reducing its EPS estimates for the Dutch human resources services group by 5%.


Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.