Robert Half (RHI) PT Lowered to $56 at Jefferies

Jefferies analyst Stephanie Moore lowered the price target on Robert Half (NYSE: RHI) to $56.00 (from $60.00) while maintaining a Underperform rating.

The analyst comments "RHI missed cons revenue by ~1% and EPS by ~3% due to continued weak demand as clients and candidates remain cautious with elongated sales cycles. These trends are continuing into 3Q with the 3Q guide below the Street by >10%. We remain on the sidelines given we see no signs of an inflection in the broader labor market. Long term, we believe ~50% of the company's revenue is at risk given online entrants and AI. Reiterate Underperfom."

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