Hays: boosted by broker upgrade

(CercleFinance.com) - The share of recruitment group Hays is up about 1.
8% in London on Thursday, outpacing the FTSE (+1%), boosted by Credit Suisse comments, with the broker upgrasding the share from "underperform" to "neutral," while raising its corresponding target price from 105 pence to 120 pence, which is just above its current price.

In its comments, the broker says that it is reducing its 2020 EPS estimate by 6%, although has raised that for 2022 by 12% to "reflect greater operational leverage in both directions".

"We think Hays is well-financed, high-return business with leading market positions in key end markets that can take share as markets improve," analysts write.


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