Morgan Stanley Upgrades Robert Half to Equal-Weight

Analyst Christopher Gutek says pent-up demand for labor should benefit the financial recruiting firm

Morgan Stanley upgraded Robert Half International (RHI ) to equal-weight from underweight.

Analyst Christopher Gutek says he believes the risk/reward trade-off has recently become more balanced and slightly more skewed towards upside. Specifically, despite a lingering "jobless recovery," he says recent hiring surveys and Help-Wanted ad demand suggests that pend-up demand for labor may soon get unleashed.

However, Gutek thinks demand for labor is likely to build somewhat slowly over the course of this year. Also, there are many lingering macro and geopolitical risks that may prevent a positive economic scenario from playing out.

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