Deutsche Bank Raises TriNet Price Target To $33 On Raised ’15E EPS
In a research report issued today, Deutsche Bank analyst Paul Ginocchio reiterated a Buy rating on TriNet (NYSE:TNET) and raised his price target to $33 (from $27), as he is more optimistic about future growth prospects of TriNet. The new price target represents a potential upside of 26% from where the stock is currently trading.
Ginocchio noted, “After reviewing our model, TNET’s latest SMBeat data, and other small business employment macro drivers, we are raising our forward EPS estimates. Our 3Q adj EPS (ex stock comp & acq. intangibles) remains $0.26 (Street at $0.26), our 4QE adj EPS goes from $0.35 to $0.37 (Street at $0.35), and our ‘15E adj EPS increases +4% from $1.39 to $1.45 (Street at $1.35).”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Paul Ginocchio has a total average return of 4.2% and a 39.4% success rate. Ginocchio is ranked #962 out of 3319 analysts.