J.P. Morgan Remains Overweight On Robert Half

According to J.P. Morgan, Robert Half International RHI reported 2Q11 EPS of $0.25, a $0.03 beat to the estimate. J.P. Morgan said that RHI continued to show strengthening y/y growth throughout all its business segments, reflecting strong fundamentals in the US and Continental European flex staffing markets. “Remain Overweight on RHI. We are maintaining our Dec 11 price target of $40 (55% upside potential) based on 1.4x EV/S on our 2011E revenues.” Robert Half International closed yesterday at $25.82.