ManpowerGroup price target lowered to $74 from $78 at Truist

Truist analyst Tobey Sommer lowered the firm’s price target on ManpowerGroup (MAN) to $74 from $78 and keeps a Hold rating on the shares after its Q3 results and outlook. Despite Q4 revenue guidance being in-line with the Street, Northern Europe demand is expected to be weak, which contributed to a below consensus earnings guide, the analyst tells investors in a research note. The French preliminary budget also poses an additional risk for a higher tax rate in 2024/25, the firm added.