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Investing.com - Truist Securities has lowered its price target on ASGN Inc. (NYSE:ASGN) to $50.00 from $65.00 while maintaining a Buy rating on the stock. The new target still suggests significant upside from current levels, with ASGN trading at $40.01, near its 52-week low of $39.25. According to InvestingPro data, the stock appears undervalued based on its Fair Value assessment.
The adjustment follows Truist’s attendance at ASGN’s Investor Day in New York City, where the company presented financial targets that exceeded both consensus expectations and the firm’s own predictions. Despite the stock falling 52.65% over the past year, ASGN maintains a healthy P/E ratio of 13.59 and trades below book value with a Price/Book ratio of 0.93.
During the event, ASGN management emphasized significant opportunities to assist clients with artificial intelligence implementations, noting that companies are increasingly seeking measurable outcomes from their automation investments.
Truist acknowledged that while AI could serve as a catalyst for ASGN’s growth, automation also presents certain risks for the company’s business model.
ASGN also announced plans to rebrand as Everforth, a move the company believes will help deliver greater value to clients, deepen collaboration with partners, and drive operational efficiencies across its enterprise.
In other recent news, ASGN Incorporated reported third-quarter 2025 earnings that exceeded analyst expectations, with an earnings per share (EPS) of $1.31 compared to the forecasted $1.22. The company also reported revenue of $1.01 billion, slightly surpassing the anticipated $1 billion. ASGN announced plans to rebrand as Everforth, consolidating its six brands under this new identity by the first half of 2026. The rebranding aims to streamline operations and enhance collaboration across its enterprise. Additionally, ASGN has launched an AI Factory framework designed to help organizations scale artificial intelligence solutions more effectively. The framework addresses challenges like fragmented tools and governance issues. BMO Capital reiterated its Outperform rating on ASGN with a price target of $57.00, following the company’s Investor Day. Truist Securities also maintained a Buy rating with a $65.00 price target, highlighting the strategic elements presented at the Investor Day. ASGN further announced a $1 billion share buyback program as part of its recent strategic moves.
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