PeopleIN released a strong 1H result, according to Morgans, with beats against normalised earnings (EBITDA) and normalised profit (NPATA) of 5.2% and 6.8%, respectively.

Management confirmed its FY23 earnings guidance of $62-$66m and the broker expects delivery at the top-end of this range.

Morgans increases its target to $4.90 from $4.70. The Add rating is retained on an attractive multiple and fully franked dividend.

Sector: Commercial & Professional Services.

Target price is $4.90.Current Price is $3.06. Difference: $1.84 - (brackets indicate current price is over target). If PPE meets the Morgans target it will return approximately 38% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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