On Monday analysts at Deutsche Bank upgraded staffing and risk
consulting firm Robert Half International Inc. (
) to "Buy" and increased its price target due to potential growth
because of workforce changes as healthcare reform takes place.
The analysts upgraded RHI from "Hold" to "Buy" with a price
target of $45, up from $33. The new target is a +54% upside from
Friday's closing price of $29.26.
Deutsche Bank commented, "While the stock is up from its recent
lows, we think there is significant room for it to run due to the
potential workforce changes companies will undertake to deal with
healthcare reform. We have not yet captured this potential benefit
in our 2013E EPS, but even without it we are comfortable with our
above consensus estimates (DB $1.96 vs Street $1.77). We are
raising our 1-year price target from $33 to $45, which equates to
an 18.5x PE on our '14E."
Robert Half shares were flat in premarket trading on Monday. The
stock is up +2.81% year-to-date.
The Bottom Line
Shares of Robert Half International (
) have a 2.05% dividend yield, based on Friday's closing stock
price of $29.26. The stock has technical support in the $25-$26
price area. If the shares can firm up, we see overhead resistance
around the $31-$34 price levels.
Robert Half International Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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