Kelly Services price target lowered to $16 from $25 at Barrington

Barrington analyst Kevin Steinke lowered the firm’s price target on Kelly Services (KELYA) to $16 from $25 and keeps an Outperform rating on the shares. The company’s Q2 results missed expectations and it noted that macroeconomic dynamics had an increased negative impact on performance, the analyst tells investors in a research note. The firm cites the Q3 shortfall and “soft” Q4 outlook for the target cut.