Workforce solutions provider ManpowerGroup ( MAN ) on Tuesday saw its earnings estimates lowered by analysts at Morgan Stanley.
The firm said it lowered its numbers for MAN through 2012, noting that weak business in Europe is weighing on the company's growth. Morgan Stanley maintained its "Equal-weight" rating and $40 price target on MAN, which suggests an 11% upside to the stock's Monday closing price of $36.12.
Manpower shares were unchanged in premarket trading Tuesday.
The Bottom Line
Shares of ManpowerGroup ( MAN ) have a 2.13% dividend yield, based on last night's closing stock price of $36.12. The stock has technical support in the $32-$35 price area. If the shares can firm up, we see overhead resistance around the $40-$42 price levels.
ManpowerGroup ( MAN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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