ManpowerGroup price target lowered to $85 from $86 at BMO Capital

BMO Capital lowered the firm’s price target on ManpowerGroup to $85 from $86 and keeps a Market Perform rating on the shares. The company reported a Q4 earnings beat due mainly to better-than-expected revenues and lighter other expenses, while the management commentary indicated that trends are still weak, which is expected to continue in certain areas in Q1, the analyst tells investors in a research note. BMO adds that ManpowerGroup’s valuation historically has been negatively impacted by its European exposure, pointing to “greater recessionary fears in Europe” driving its neutral stance.