Randstad upgraded to Hold from Underperform at Jefferies

Jefferies upgraded Randstad (RANJY) to Hold from Underperform with a EUR 42 price target. The firm states that while job ads are not improving in major labor markets and manufacturing PMI data remains weak, Randstand and Manpower (MAN) have seen sequential temp volume demand stabilize in recent weeks. Randstad has also modestly increased its headcount during Q1 for the first time in six quarters, and following the stock’s recent underperformance, there is not sufficient downside to remain at Underperform, the analyst tells investors in a research note.