Adecco's share price fell by almost 1% as UBS reaffirmed its 'sell' recommendation on the company, while lowering its target price from CHF 30 to CHF 25.
This new target implies a potential downside of 12% for the Swiss human resources services group.
We believe that staffing markets will weaken further in the second half of 2024, making it even more difficult to balance short-term profitability with capacity protection", says the broker.
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Adecco Group AG, formerly Adecco S.A., provides human resource (HR) services. The Company's services include temporary staffing, permanent placement, outsourcing, career transition. It operates through two business lines: Staffing and Solutions. The Staffing business line includes General Staffing, which includes Office and Industrial, and Professional Staffing, which includes Information Technology, Engineering and Technical, Finance and Legal, and Medical and Science. The Solutions business line includes Business Process Outsourcing, which includes Managed Service Programs, Recruitment Process Outsourcing and Vendor Management System, and Career Transition and Talent Development, which includes outplacement, career development, change management solutions, training and consulting. Its segments include France, North America, UK & Ireland, Germany & Austria, Japan, Italy, Benelux, Nordics, Iberia, Australia & New Zealand, Switzerland, Emerging Markets and Lee Hecht Harrison.
ADECCO GROUP AG 
