Oppenheimer Comments On Monster Worldwide Management Meetings

According to Oppenheimer, Monster Worldwide (NYSE: MWW) held management meetings yesterday.

Oppenheimer said that meetings with Monster management provide it with increased conviction that MWW remains well positioned to benefit from a cyclical employment recovery. “The combination of improving revenue/bookings growth, an apparent smooth integration of HotJobs, new products and tight cost control suggests solid revenue growth with strong operating leverage this year and next. MWW remains confident in its 20-25% bookings/revenue growth goal in FY11 with at least 50% incremental margins, assuming the economic/employment recovery continues at its current pace. While we do not expect as robust a recovery for MWW this cycle compared to last, we believe MWW's product portfolio and international mix and opportunity provide relative advantages. We continue to believe MWW's valuation is attractive on "normalized" EPS potential.”

Monster Worldwide closed yesterday at $14.99.