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Robert Half Target Price Lift

Robert Half Target Price Lift

The financial services industry is showing signs of hiring, one analyst said in a note to investors Tuesday while raising estimates for staffing services company Robert Half International Inc.

Analyst Ty Govatos of C.L. King & Associates wrote that while temporary positions are picking up, there is evidence that permanent placement in jobs is improving. He expects Robert Half's revenue to turn up in the first quarter of 2010 on the heels of strong results from staffing companies Heidrick & Struggles International Inc. and Korn Ferry International Inc.

"Robert Half, along with Manpower, is an industry bellwether and the company has generated returns that are not only outstanding for the industry but for U.S. companies in general," Govatos said, lifting his price target for Robert Half to $35 per share from $30.

Govatos boosted his earnings-per-share estimate for fiscal year 2010 to 60 cents, compared with 20 cents, and maintained a "strong buy" rating.
Shares of Robert Half slipped up 4 cents to close Tuesday at $26.57.

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