UPDATE: Morgan Stanley Raises PT to $43 on Manpower; Strong Q1 Execution

Morgan Stanley says in a recent note that it raises its price target on Manpower MAN from $40 to $43 and reiterates its rating at Equal-weight. Morgan Stanley notes, "MAN's 1Q shows that execution can still lead to outperformance in Staffing despite macro pressure. Although minimal chg in MS' macro outlook, we increase our PT to $43 to reflect better rev growth / SG&A leverage. Remain EW: MAN is up 26% YTD & we see better chance of future peer outperformance." MAN closed at $44.92 on Friday.