Deutsche Bank (DB) downgraded its rating on Kforce Inc. (NASDAQ:KFRC) to "Hold" from "Buy", saying the recent positive move in the share price now fully values the staffing services company.
"We have seen deceleration in peer company IT staffing trends from 3Q to 4Q and worry that KFRC’s tech business may decelerate more than we are expecting, particularly due to its exposure to larger accounts," Paul Ginocchio, an analyst at DB, wrote.
Ginocchio trimmed its price target on the stock to $13 from $14.
The stock, which has been trading between $8.12 and $19.23 over the past year, rose 1.9% to $12.82 on Friday.
