Barclays initiates a 'Overweight' rating on Hays, with a target price of £1.20, believing that, after analyzing data over the last 20 years, this may be one of the best times to buy the stock.

In an initiating note on several European human resources groups, the broker advises 'to buy when sentiment is at its lowest, bearing in mind that downward earnings revisions may continue for another 10 to 11 months'.

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