Markets & Finance

Baird Upgrades Korn/Ferry

Baird upgrades executive search firm Korn/Ferry International (KFY) to outperform from neutral.

Analyst Mark S. Marcon is upgrading on attractive valuation, combined with prospects for solid fourth-quarter operating results and forward guidance. He notes permanent placement/recruiting revenue has been very strong for the companies with March reporting periods.

He sees Korn/Ferry posting solid fourth-quarter (April) results this Wednesday of 25 cents earnings per share on 23% higher revenue. He also expects solid forward guidance from company, as several indicators point to a tightening labor market for professionals.

Longer term, Marcon sees Korn/Ferry benefiting from the void in a labor force that will be left by retiring baby boomers.

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