Robert Walt. Share Price (RWA)

Robert Walters: Investec buts target price from 237p to 235p maintaining a buy recommendation.

Robert Walters: Shore Capital downgrades to hold.

Meanwhile, the Questor team at The Independent has labelled recruitment group Robert Walters as a 'hold', after the firm said yesterday that the global economic backdrop is taking its toll on the industry with trading conditions tough in the UK, Europe and the Americas.

Robert Walters: Seymour Pierce keeps sell stance and 165p target; Panmure Gordon keeps sell rating and 127p target.

Robert Walters, Chief Executive, commented: "These are solid results, given a global economic backdrop that continues to be challenging. Trading conditions in the UK, Continental Europe, the Americas and South Africa remained broadly unchanged in the third quarter, whilst Asia Pacific has continued to be impacted by the ongoing weakness in the financial services sector. "The management structures that we have in place have always allowed us to react swiftly to market conditions; and our international brand strength, geographic and discipline diversity and experienced management team leave us well placed to meet these challenges and continue to deliver positive results." The Group will publish its fourth quarter and full year trading update on 8 January 2013.

· Solid third quarter results with Group net fee income up 3% on a constant currency basis. Overall, Group trading in line with expectations. · Sequential quarter on quarter growth in Asia Pacific. · Group completed the purchase of the remaining minority interest of its China business. · Resource Solutions, the Group's recruitment outsourcing business, has performed strongly and won a number of new clients. This is largely responsible for Group headcount increasing to 2,273 (30 June 2012: 2,159). · Strong net fee income growth rates in France and Germany. · Balance sheet remains strong with current net cash of £6.0m (30 June 2012: £4.5m).