HireQuest price target raised to $28 from $23 at DA Davidson

DA Davidson analyst Michael Baker raised the firm’s price target on HireQuest to $28 from $23 and keeps a Buy rating on the shares. The company’s Q4 revenue topped estimates when adjusting for a business that became a discontinued operation this quarter, even though expenses were a bit higher than the firm had modeled due to acquisition costs and volatility in workers comp, the analyst tells investors in a research note. DA Davidson maintains that HireQuest is an "ideal way" to play the tight labor market.