Adecco: shares up as broker raises target price

(CercleFinance.com) - Shares in Adecco rose 1% at 53.
8 Swiss francs in afternoon trading on Monday after a broker raised its target price for the stock.

UBS has indeed raised its target price from 52 Swiss francs to 57 Swiss francs, saying that it still "believes" in the share.

"Despite the year-to-date rally we still see more upside", the broker wrote in a note.

Adecco shares have risen by 17% since 1 January.

"The pace of erosion in leading indicators continues to ease and we remain confident of an inflection in second-half," UBS added.

UBS has a "buy" rating on the share.

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