ManpowerGroup

MAN · NYSE

$42.98+$1.50 (+3.62%)TodayMarket closed · Oct 20, 5:29 PM ET

Prev close $41.48

MAN analyst rating

HoldConsensus of 7 analysts over the last 12 months. 29% rate it a buy.

Strong buy0
Buy2
Hold5
Underperform0
Sell0

12-month price target · 9 analysts

Average $58.14 (+35.3% upside)

Low: $47.47
Now: $42.98
High: $75.60

Upgrades and downgrades

The latest rating actions, newest first

MAN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BMO Capital	Oct 19, 2026	Maintains	Outperform	$63.00 → $58.00	60%
UBS	Oct 16, 2026	Maintains	Neutral	$56.00 → $48.00	51%
Baird	Oct 16, 2026	Maintains	Outperform	$72.00 → $65.00	65%
Goldman Sachs	Oct 16, 2026	Maintains	Neutral	$57.00 → $50.00	43%
JP Morgan	Oct 16, 2026	Maintains	Neutral	$59.00 → $50.00	64%
UBS	Oct 13, 2026	Maintains	Neutral	$55.00 → $56.00	51%
Barclays	Jul 20, 2026	Maintains	Equal-Weight	$30.00 → $47.00	64%
BMO Capital	Jul 17, 2026	Maintains	Outperform	$49.00 → $63.00	60%
Goldman Sachs	Jul 17, 2026	Maintains	Neutral	$36.00 → $57.00	43%
Truist Securities	Jul 17, 2026	Maintains	Hold	$34.00 → $50.00	61%

The case for and against

Updated Oct 4, 2026

Bull case

ManpowerGroup is supported by an improving revenue trajectory, with 6% year-over-year constant-currency growth versus 3% guided and 8% organic days-adjusted growth in the US, alongside revenue of $4.86B and adjusted EPS of $0.99 beating expectations. Margin pressure is also easing, as gross margin declined 80 bps year over year versus 100 bps in 1Q, while EBITA reached $103M with a 2.1% margin, helped by cost cuts and years of technology investment. The company’s cyclical leverage to a stabilizing labor market, strength in Southern Europe and the Americas, and a $200M permanent cost-savings program targeted for 2028 all support further operating leverage and earnings expansion.

Bear case

ManpowerGroup is viewed negatively because its core Staffing and Interim business remains highly exposed to cyclical labor demand, while management itself has flagged that global growth, labor-market health, and the success of significant acquisitions can materially affect revenue and margins. Although revenue rose 10% y/y to $4.51B and EPS increased 3% in CC to $0.51, gross margin still fell 110bps y/y to 16.0%, with staffing margin alone cutting 70bps, underscoring weak operating leverage. The mixed Experis acquisition record, combined with integration risk, reputation sensitivity, and potential management-transition disruption, suggests execution and margin pressure could outweigh near-term top-line resilience.

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