Kforce price target lowered to $58 from $68 at Truist

Truist analyst Tobey Sommer lowered the firm’s price target on Kforce (KFRC) to $58 from $68 and keeps a Hold rating on the shares. The company’s results in Q3 tracked largely in-line with what the Street expected, and the announced new development center in India will unlock incremental addressable spend by expanding Kforce’s service offering to clients, the analyst tells investors in a research note. With the demand environment remaining stable, Truist awaits an economic rebound to capitalize on Kforce’s significant buildup of client work.