On Monday analysts at Deutsche Bank upgraded staffing and risk consulting firm Robert Half International Inc. (RHI) to “Buy” and increased its price target due to potential growth because of workforce changes as healthcare reform takes place.

The analysts upgraded RHI from “Hold” to “Buy” with a price target of $45, up from $33. The new target is a +54% upside from Friday’s closing price of $29.26.

Deutsche Bank commented, “While the stock is up from its recent lows, we think there is significant room for it to run due to the potential workforce changes companies will undertake to deal with healthcare reform. We have not yet captured this potential benefit in our 2013E EPS, but even without it we are comfortable with our above consensus estimates (DB $1.96 vs Street $1.77). We are raising our 1-year price target from $33 to $45, which equates to an 18.5x PE on our ‘14E.”

Robert Half shares were flat in premarket trading on Monday. The stock is up +2.81% year-to-date.

The Bottom Line
Shares of Robert Half International (RHI) have a 2.05% dividend yield, based on Friday’s closing stock price of $29.26. The stock has technical support in the $25-$26 price area. If the shares can firm up, we see overhead resistance around the $31-$34 price levels.

Robert Half International Inc. (RHI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.