ThinkEquity Trims Monster Target On Weak Jobs Market

ThinkEquity’s Terrence Babe Monday chopped his price target on online jobs site Monster Worldwide (MNST) to $45 from $51, noting that “weakening U.S. labor markets could present headwinds” for growth of its domestic business.

“While we believe Monster is better positioned to mitigate weakening labor market conditions than it was a few years ago,” he wrote in a research note Monday morning, “we acknowledge Monster’s sensitivity to the employment cycle.”

He adds that the weak August employment report “was driven by weakness in manufacturing and construction,” and that “potential economic moderation and further weakness in the U.S. employment market, could spread to other industries,” weighing on the company’s business.