ManpowerGroup price target lowered at UBS, setup into print ‘challenging’

UBS lowered the firm’s price target on ManpowerGroup (MAN) to $63 from $71 and keeps a Neutral rating on the shares. UBS thinks the setup into the Q4 print is “challenging,” driven by continued soft staffing demand in the U.S., France, and Northern Europe, the analyst tells investors in a research note. The firm expects Q1 EPS guidance to be below guidance, driven by a seasonal sequential margin decline that isn’t fully captured by consensus, and near-term estimate pressure could remain meaningful, keeping the firm on the sidelines despite the stock’s weakness over the past month.