Adecco: shares fall after downgrade
(CercleFinance.com) - Shares of Adecco fell 0.
5 percent on Monday after Jefferies recommended investors sell the stock on concerns about the Swiss staffing group's business.
Adecco shares were down at 52.9 Swiss francs on the SIW Swiss Exchange market after Jefferies downgraded the stock to "underperform" from "hold," cutting its target price from 55 Swiss francs to 43 Swiss francs.
Due to industrial slowdown, global labour markets struggled in June, Jefferies said, prompting the broker to lower its earnings estimates on Adecco by 4-5%.
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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 percent on Monday after Jefferies recommended investors sell the stock on concerns about the Swiss staffing group's business.
Adecco shares were down at 52.9 Swiss francs on the SIW Swiss Exchange market after Jefferies downgraded the stock to "underperform" from "hold," cutting its target price from 55 Swiss francs to 43 Swiss francs.
Due to industrial slowdown, global labour markets struggled in June, Jefferies said, prompting the broker to lower its earnings estimates on Adecco by 4-5%.
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.