On Monday, TD Cowen demonstrated confidence in TriNet Group (NYSE:TNET), a provider of comprehensive human resources solutions, by raising its price target on the company's stock. The new target is set at $140.00, up from the previous $129.00, with the firm maintaining an Outperform rating on the shares.
The adjustment follows a recent meeting between the TD Cowen analyst and TriNet's executive team, including the new CEO Mike Simonds, as well as the former CEO Burton Goldfield, CFO Kelly Tuminelli, and Head of IR Alex Bauer. The discussions in this meeting, which took place last week, have reinforced the analyst's view that TriNet is on a path to accelerated growth.
The optimism from TD Cowen comes at a time when TriNet is experiencing a normalization in net client hiring. This trend is seen as a positive indicator for the company's future performance, as it suggests that TriNet's growth could pick up pace moving forward.
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