Temp Services Increase, Manpower Stays Conservative

Manpower Inc. (NYSE: MAN) doubled JP Morgan's estimated EPS $0.20 at $0.40, with total revenues for 2Q 3% higher than JPM anticipated.

Geographically, temp services are accelerating, thanks to the acknowledgment of value in labor flexibility in our uncertain economy. Although MAN has seen improvements in its margins, the company remains conservative in the 3Q, given the uncertainty in global economies.

JPM maintains its price target at $70, and also maintains its "hold" rating.

Manpower Inc. closed yesterday at $47.15.