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On Tuesday, Jefferies analyst Simon Lechipre upgraded Randstad (AS:RAND) NV shares from Hold to Buy, setting a new price target of EUR50.00, an increase from the previous EUR42.00. The upgrade reflects a positive outlook for the company's performance in the coming year.
Lechipre highlighted Randstad's potential to outperform within the European sector, citing an attractive earnings profile for the year. The analyst anticipates a return to year-over-year growth, with an expected 12% increase in adjusted EBIT for FY25E. This projection is buoyed by easy comparisons from the previous year and a more favorable mix of business activities.
The analyst's expectations for Randstad now align closely with the broader consensus. Lechipre's commentary suggests that the market has appropriately adjusted its view on the company's prospects, setting the stage for potential outperformance.
Further contributing to Randstad's appeal is its strong balance sheet, which Lechipre believes could provide additional catalysts over a 12 to 24-month period. The implication is that financial stability and flexibility could enable the company to pursue growth opportunities or shareholder-friendly initiatives.
With this upgrade, Jefferies signals confidence in Randstad's ability to navigate the current market and deliver growth. The new price target of EUR50.00 represents a significant increase and underscores the firm's belief in the company's value proposition to investors.
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