Adecco: UBS raises price target
(CercleFinance.com) - UBS raised its price target on Adecco to 61 Swiss francs from 57 Swiss francs on Wednesday, saying the shares of the world's biggest staffing group have "more to give".
"Staffing data remains weak, but we remain confident organic momentum can improve in the second-half; and meanwhile take encouragement from an improving margin story”, the analysts said in a note to clients.
UBS keeps a "buy" rating on the share.
The stock of Adecco, which has risen 15% year-to-date, was trading down 1.3% at 53 Swiss francs this morning in Zurich.
Last week Deutsche Bank downgraded the stock from "hold" to "sell," and said it was worried by weakening indicators in the US.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Staffing data remains weak, but we remain confident organic momentum can improve in the second-half; and meanwhile take encouragement from an improving margin story”, the analysts said in a note to clients.
UBS keeps a "buy" rating on the share.
The stock of Adecco, which has risen 15% year-to-date, was trading down 1.3% at 53 Swiss francs this morning in Zurich.
Last week Deutsche Bank downgraded the stock from "hold" to "sell," and said it was worried by weakening indicators in the US.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.