TrueBlue price target lowered to $14 from $16 at Baird

Baird analyst Mark Marcon lowered the firm’s price target on TrueBlue to $14 from $16 and keeps an Outperform rating on the shares. The firm said client demand in most segments and verticals has been depressed/normalizing as employers are still adjusting from the big post-Covid hiring surge that took place in 2021 and 2022. Now, most clients are being more cautious and selective in their hiring activity and their usage of outside staffing and recruiting resources.