ManpowerGroup price target lowered to $55 from $70 at Truist

Truist analyst Tobey Sommer lowered the firm’s price target on ManpowerGroup (MAN) to $55 from $70 and keeps a Hold rating on the shares as part of a broader research note on Human Capital names. The firm is adjusting its estimates to reflect macroeconomic uncertainty and a more dour private company feedback in its recent Safari Snapshots poll, the analyst tells investors in a research note. In the prior earnings cycle, companies had expressed optimism about the Trump administration’s deregulation policies, while hopes for a TCJA – Tax Cuts and Jobs Act – extension yielded optimism for an inflection in the staffing cycle, but tariffs seem to have reversed early enthusiasm, Truist adds.