Korn Ferry Seen Gaining from Executive Search Growth, Truist Says

MT Newswires Live
Aug 29

Korn Ferry's (KFY) top line is set to benefit from growth in executive search, along with a potential boost in sentiment from improving labor market and macroeconomic conditions, Truist said Friday in a note.

The brokerage said private firms expect executive search to grow 12% in the second half of the year, led by rising volumes in North America.

While artificial intelligence is driving workflow efficiency, it has not hurt demand for executive-search firms, reinforcing the durability of the high-touch search model, Truist said.

Truist raised its fiscal Q1 EPS estimate to $1.37 from $1.35 and its revenue estimate to $740 million from $736 million. It also projects fiscal 2027 executive-search revenue growth of 8%, up from 6% previously.

The investment firm reaffirmed the company's buy rating and raised its price target to $100 from $80.

Price: 87.02, Change: +2.37, Percent Change: +2.80

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