Kelly Services shares ‘significantly undervalued,’ says Barrington

Barrington views Kelly Services (KELYA) shares as “significantly undervalued” after hosting investor meetings with management. The company is undertaking a strategic transformation that has positioned it as a leading provider of “faster-growing and higher-margin” specialty staffing and workforce solutions focused in North America, the analyst tells investors in a research note. The firm says Kelly is valued at a substantial discount to other publicly-traded staffing companies, which offers a “compelling investment opportunity.” It keeps an Outperform rating on the shares with a $25 price target