Is this U.S.-China selloff a buy? A top Wall Street voice weighs in
Investing.com - Deutsche Bank lowered its price target on SThree Plc. (LON:STHR) (OTC:STREF) to GBP2.90 from GBP3.60 on Wednesday while maintaining a Buy rating on the stock.
The staffing company reported net fees of approximately £82 million, representing a 12% decrease on a like-for-like basis, which showed slight improvement compared to reductions of 13% in Q2 and 15% in Q1.
Regional performance varied significantly, with the Netherlands market declining 31%, worsening from 24% in Q2 and 16% in Q1, while the DACH region (Germany, Austria, Switzerland) decreased by 21%.
The U.S. market provided a bright spot with fees increasing by 17%, driven by demand in the energy sector, offsetting some weakness in other regions.
Deutsche Bank noted that SThree’s contractor orderbook stands at £156 million, 6% lower year-over-year, though the company has approximately 90% of consensus FY25E fees already covered.
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