ManpowerGroup price target lowered to $55 from $70 at Barclays

Barclays lowered the firm’s price target on ManpowerGroup (MAN) to $55 from $70 and keeps an Underweight rating on the shares. In the U.S., while the labor market continues to soften, it is still resilient and the chances for a recession remain low, the analyst tells investors in a research note. However, the firm says Europe remains weak with increased risks to the export-sensitive Western European economies. Barclays says ManpowerGroup has 65% exposure to Europe and 41% manufacturing exposure in total.