People Infrastructure has guided for FY20 operating earnings (EBITDA) in the range of $24-25m. Morgans expects the company will pay a final dividend of 4.5c.

The broker upgrades its numbers following the update, noting the drivers of earnings will be continued ramp up of hospitals and an increase in demand for IT personnel. Add rating maintained. Target rises to $2.80 from $2.66.

Sector: Commercial & Professional Services.

Target price is $2.80.Current Price is $2.15. Difference: $0.65 - (brackets indicate current price is over target). If PPE meets the Morgans target it will return approximately 23% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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