JPMorgan lowered the firm’s price target on Robert Half (RHI) to $47 from $65 and keeps a Neutral rating on the shares after announced Q1 EPS and revenue disappointed. The debate around temporary help is shifting from a focus on the shape of a recovery to a discussion of the industry’s performance in a potential recession, according to the analyst, who feels there is further downside to temp help revenues and margins in a recession, as evidenced by the company’s Q2 guidance.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RHI:
- Mixed Performance and Uncertain Outlook Lead to Hold Rating for Robert Half
- Robert Half price target lowered to $45 from $50 at Barclays
- Robert Half International Faces Revenue Decline Amid Uncertainty
- Robert Half sees Q2 EPS 36c-46c, consensus 58c
- Closing Bell Movers: Robert Half down 15% after earnings miss