UPDATE: Wells Fargo Securities Upgrades On Assignment on Good Market Position

In a report published Thursday, Wells Fargo Securities analyst Ed Caso upgraded the rating on On Assignment (NYSE: ASGN) from Market Perform to Outperform.

In the report, Wells Fargo Securities noted, “We believe On Assignment is well positioned for above-market growth and gross margin due to its focus on the attractive IT (80-85% of revenue) and healthcare and life sciences (15-20% of revenue) markets. We see the potential for steady EBITDA margin expansion over time given extension of permanent placement work and systems integration.”

On Assignment closed on Wednesday at $36.85.