Adecco: UBS maintains buy rating after results

(CercleFinance.com) - UBS believes that Adecco's Q4 2022 earnings are solid and that the outlook is in line with industry peers.


The analyst therefore reiterates a buy rating on the stock with an unchanged target price of 38 Swiss francs.

Adecco reported adjusted EPS that is down 22% for 2022, as well as an EBITA margin excluding non-recurring items that fell 110 bp to 3.5%, a level the Swiss human resources group nevertheless described as "robust".


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