Piper Jaffray Raises Price Target on Korn/Ferry International (KFY) Following F4Q15.

Piper Jaffray maintains a Neutral rating on Korn/Ferry (NYSE: KFY), and raised the price target to $37.00 (from $36.00), following F4Q. Total fee revenue of $272M increased 7.9% y/y, beating the consensus of 3.6%. EPS of $0.51 beat $0.47 estimates.

Analyst George Tong commented, "F4Q revenue at Korn/Ferry solidly exceeded expectations, driven by a sharp rebound in executive search performance with sustained momentum in Leadership & Talent Consulting and Futurestep. We believe KFY's revenue diversification initiatives, differentiated IP and opportunity to cross-sell position the company for solid low-to-mid teens earnings growth over the next two years. We raise our price target from $36 to $37 and see 10% upside, but maintain our Neutral rating on the basis of relative upside potential compared to our coverage universe."

For an analyst ratings summary and ratings history on Korn/Ferry click here. For more ratings news on Korn/Ferry click here.

Shares of Korn/Ferry closed at $32.76 yesterday.

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