Adecco: shares outperform after broker raises target
(CercleFinance.com) - Shares in Swiss staffing group Adecco outperformed the Swiss market on Friday after UBS raised its price target for the company to 55 Swiss francs from 48 Swiss francs, with a "buy" rating on the stock.
In a sector note on the European support services industry, UBS analysts say data suggests September has been "stronger than expected", citing a strong "return to work".
About Adecco specifically, UBS said it expects temporary staffing penetration to structurally rise as the economy recovers through 2021.
Adecco shares were up 0.8% on Friday morning, while Zurich's SMI index rose by just 0.4%.
Copyright (c) 2020 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.
In a sector note on the European support services industry, UBS analysts say data suggests September has been "stronger than expected", citing a strong "return to work".
About Adecco specifically, UBS said it expects temporary staffing penetration to structurally rise as the economy recovers through 2021.
Adecco shares were up 0.8% on Friday morning, while Zurich's SMI index rose by just 0.4%.
Copyright (c) 2020 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.