Adecco: biggest winner on broker upgrade
(CercleFinance.com) - Adecco shares are up 1.
8% at 53 Swiss francs on Monday, making it the biggest winner amongst Swiss large caps, after Credit Suisse upgraded its rating on the share from "neutral" to "outperform".
"We think the combination of a stabilizing lead indicator, dividend sustainability if macro conditions tangibly weaken and margin support from self-help initiatives are not reflected in the current price," Credit Suisse says in a note.
"Markets remain challenging but are not, for now at least, getting worse," it adds.
The broker has also raised its target price for the share from 57 Swiss francs to 60 Swiss francs.
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.
8% at 53 Swiss francs on Monday, making it the biggest winner amongst Swiss large caps, after Credit Suisse upgraded its rating on the share from "neutral" to "outperform".
"We think the combination of a stabilizing lead indicator, dividend sustainability if macro conditions tangibly weaken and margin support from self-help initiatives are not reflected in the current price," Credit Suisse says in a note.
"Markets remain challenging but are not, for now at least, getting worse," it adds.
The broker has also raised its target price for the share from 57 Swiss francs to 60 Swiss francs.
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.