Heidrick & Struggles price target raised to $40 from $33 at Truist

Truist analyst Tobey Sommer raised the firm’s price target on Heidrick & Struggles (HSII) to $40 from $33 and keeps a Hold rating on the shares. The firm cites the company’s Q3 earnings beat and above-consensus guidance, adding that with the On-Demand Talent segment turning profitable, the management believes this segment can be a high single-digit margin over the next 6-8 quarters. Truist adds that the company’s results also offer a “positive read-through” for Korn Ferry (KFY) as they illustrate a healthy market.