Adecco: UBS double downgrades stock
(CercleFinance.com) - UBS has downgraded Adecco shares directly from "buy" to "sell", reducing its target price for them from 40 CHF to 32.
5 CHF. Its new target price reprensents downside potential of 11% for the Swiss HR service group's stock.
"We now see risks that a weaker hiring environment will continue well into next year. Although relative growth and productivity continue to improve, this leaves valuation exposed", the broker warns.
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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.
5 CHF. Its new target price reprensents downside potential of 11% for the Swiss HR service group's stock.
"We now see risks that a weaker hiring environment will continue well into next year. Although relative growth and productivity continue to improve, this leaves valuation exposed", the broker warns.
Copyright (c) 2023 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.