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Adecco: Barclays raises target price

(CercleFinance.com) - Barclays reiterates its "overweight" rating on the Adecco share, while raising its corresponding target price from 66.
5 Swiss francs to 70 Swiss francs, based on a stronger fourth quarter, which has led it to increase its 2020 EPS estimates by around 5%.

"Both French and US December temp data were better than expected, and follows a positive RAND trading update at the end of last year", Barclays said.

"Looking ahead, lockdown uncertainty casts a shadow over 1Q - particularly Jan & Feb, but comps ease materially in March", the broker says, which still expects organic growth of 8.5% for 2021.


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