Feb 5 BMO Capital Markets upgraded Spherion
Corp SFN.N to "outperform" from "market perform," saying the
staffing company will benefit from the economic recovery and
its recent acquisition of Tatum LLC.
Shares of the company touched a new two-year high of $6.98,
before paring some gains to trade up 5 percent at $6.71 Friday
morning on the New York Stock Exchange.
The recent acquisition and expansion of professional
staffing units should help Spherion benefit from the economic
recovery a bit longer than last cycle, analyst Jeffrey Silber
said in a note to clients.
On Monday, Spherion said it would acquire executive
services firm Tatum for $46 million in cash and stock.
Silber also raised price target on the stock to $9 from
(Reporting by Amulya Nagaraj in Bangalore; Editing by Maju