Hays plc, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Remi Grenu from Morgan Stanley maintained a Sell rating on the stock and has a p52.00 price target.
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Remi Grenu has given his Sell rating due to a combination of factors impacting Hays plc’s financial performance. The company’s first-quarter results showed an 8% decline in net fees, which aligns with market expectations but reflects ongoing challenges, particularly in permanent placements which fell by 13%. Regional performances varied, with Germany and the UK experiencing notable declines in net fees, while Asia showed slight growth.
Despite efforts to improve productivity and reduce costs, with a reported 7% increase in productivity and a reduction in the monthly cost base, the overall financial outlook remains uncertain. The lack of guidance for fiscal year 2026 and a slight increase in net debt, primarily due to seasonal factors, contribute to the cautious stance. These elements, combined with limited visibility into future performance, underpin the Sell rating recommendation.