ING has re-iterated its Buy mandate on Randstad
ING has re-iterated its Buy mandate on Randstad this morning saying, Key staffing markets continued to gain momentum in December. This combined with expected strong US job data to be reported Friday, 8 January, should continue to boost sentiment in staffing names (especially early cyclicals), and drive further earnings momentum. We raise our 2009-11F EPS estimates considerably based on our MoM analysis. We raise our TP from 36.0 to 40.0 BUY. Valuation requires some profit taking in a further surge in sentiment.