Zacks Bull and Bear of the Day Highlights: DTE Energy, Edwards Lifesciences, ManpowerGroup, Kelly Services and Robert Half

 Zacks Bull and Bear of the Day Highlights: DTE Energy, Edwards Lifesciences,
         ManpowerGroup, Kelly Services and Robert Half International

PR Newswire

CHICAGO, Nov. 1, 2012

CHICAGO, Nov. 1, 2012 /PRNewswire/ --Zacks Equity Research highlights DTE
Energy Company (NYSE:DTE) as the Bull of the Day and Edwards Lifesciences
(NYSE:EW) as the Bear of the Day. In addition, Zacks Equity Research provides
analysis on ManpowerGroup (NYSE:MAN), Kelly Services Inc. (Nasdaq:KELYA) and
Robert Half International Inc. (NYSE:RHI).


Full analysis of all these stocks is available at

Here is a synopsis of all five stocks:

Bull of the Day:

We are upgrading our long-term recommendation on DTE Energy Company (NYSE:DTE)
to Outperform after a resounding bottom-line beat in the third quarter, which
fully offset the effects of a lower top-line. The bottom-line was helped by
significant demand for electricity due to warmer weather and higher numbers
from its storage and transportation business.

Our bullish outlook for DTE Energy is supported by its stable and growing
utilities and its complementary non-utility businesses. Going forward, the
growth momentum will be maintained by beneficial regulatory policies in
Michigan, higher authorized rates for its regulated business, growth
opportunities in its un-regulated businesses and an industry-high dividend

There are also plans to monetize its Barnett Shale assets and other
properties, which would alleviate the need for external borrowings. Our
six-month target price of $74.00 equates to about 19.0x our earnings estimate
for 2012.

Bear of the Day:

Edwards Lifesciences (NYSE:EW) reported EPS of $0.58 in the third quarter of
2012, surpassing the Zacks Consensus Estimate by $0.02. Sales increased 8.5%
to $447.9 million, in line with the preliminary result but lagged the original
guidance of $465-$485 million. This was primarily due to lower-than-expected
THV sales due to economic uncertainties in Europe, coverage issues for certain
inoperable patients in US and later-than expected approval of Sapien in
high-risk patients.

Given these headwinds, the company lowered its outlook for 2012. We prefer to
avoid the stock and accordingly downgrade it to Underperform.

Edwards current trailing 12-month earnings multiple is 36.3. The stock is
currently trading at 27.1x the 2013 EPS estimate of $3.21. Our target price is
based on 24.6x our 2013 EPS estimate.

Latest Posts on the Zacks Analyst Blog:

Manpower Upgraded to Neutral

We adopted a Neutral stance on ManpowerGroup (NYSE:MAN), a global leader in
the employment services industry, with a price target of $40.00, following
better-than-expected third-quarter 2012 results. Earlier, we had an
Underperform recommendation on the stock.

The company posted stronger-than-anticipated results on the back of increased
gross margin and effective cost management. The quarterly earnings of 79 cents
a share surpassed the Zacks Consensus Estimate of 68 cents. Net earnings per
share also came ahead of management's previously provided guidance range of 64
cents to 72 cents a share.

Manpower's comprehensive range of services makes the company a true global
staffing firm. The company provides services for the entire employment and
business cycle including permanent, temporary and contract recruitment,
employee assessment and selection, training, outplacement, outsourcing and
consulting. The company's brand value and strong global network provides it
with a competitive advantage and reinforces its dominant position in the

The company is now contemplating on exiting its lower margin business and
venturing into high margin business. The company is also focusing on
controlling expense. On the other hand, the ManpowerGroup Solutions business
sustained its growth momentum. The demand for the countercyclical outplacement
services is also portraying signs of steadiness, which rose 18% during the

However, what compels us to have a cautious view on the stock is the company's
dwindling top and bottom lines performances as well as soft projections of the
same for the fourth quarter. The quarterly earnings did came ahead of the
estimate but it fell 18.6% year over year as the soft economic environment
resulted in weak demand for recruitment services, particularly in Europe.
Strong dollar also acted as a deterrent.

Moreover, the rate of decline in total revenue of Milwaukee, Wisconsin based
Manpower has accelerated, when comparing sequentially. After falling 8.1% year
over year in the second quarter of 2012, total revenue dropped 10.5% to
$5,172.3 million during the third quarter. In constant currency too, the rate
of decline increased to 3.8% in the quarter under review from 0.8% in the
previous quarter. The soft top line performance did weigh upon the bottom
line. However, one thing that instilled confidence was that unlike the second
quarter, total revenue in the third quarter beat the Zacks Consensus Estimate
of $5,106 million.

Manpower provided a dismal fourth-quarter 2012 outlook. The company now
expects earnings between 72 cents and 80 cents a share, reflecting a
year-over-year decline of 26.5% to 18.4%, respectively. Management now
projects total revenue to decline between 5% and 7% in the U.S. dollars, or in
the band of 3% to 5% in constant currency from the prior-year quarter.

Given the pros and cons, we prefer to remain on the sidelines. Manpower, which
competes with Kelly Services Inc. (Nasdaq:KELYA) and Robert Half International
Inc. (NYSE:RHI), holds a Zacks #3 Rank that translates into a short-term
"Hold" rating.

Get the full analysis of all these stocks by going to

About the Bull and Bear of the Day

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