Hays: Jefferies still a buyer, raises target price

(CercleFinance.com) - Jefferies reinstates its 'buy' rating on Hays shares and raises its target price for them from 183p to 188p, in a note on the human resources services sector, where its best picks are this stock and its peer Page.


The broker has increased its EPS estimates for Hays and Page by 8%-20%, "With increasing evidence that strong white-collar momentum has persisted", and adopts the upper side of forecast ranges prior to Q2 results which are scheduled for the beginning of July.

Jefferies adopts more modest revisions for Adecco and Randstad, noting in particular that "US temping volumes have been flat sequentially since December 2020 and momentum remains sluggish in France".


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