J.P. Morgan Maintains Overweight on Manpower Inc (MAN)

J.P. Morgan is out with its report today on Manpower Inc MAN, maintaining Overweight. In a note to clients, J.P. Morgan writes, "We highlight that MAN should continue to disproportionately benefit from this uncertain but still quite permissive GDP-growth environment as companies prefer greater flexibility in their labor force. We expect continued double-digit revenue growth during 2011 despite “tougher” y/y comps (as MAN's businesses returned to growth in 1Q10). Importantly, French temp help market data continues to show solid growth despite difficult y/y comps. Also, the direct and indirect impact of Japan is likely to be manageable, perhaps shifting a couple of pennies of EPS from 2Q to 2H11, in our view. We think the rebuilding activities in Japan will be positive for MAN." Shares of MAN closed Wednesday at $61.52, up 0.94% from Tuesday's close.