(CercleFinance.com) – RBC announced on Wednesday that it had lowered its opinion on Adecco from ‘outperform’ to ‘perform in line’, seeing less potential in the stock after its strong growth last year.
In a research note, the broker recalls that the recruitment specialist benefited from a strong catch-up effect in 2023, which allowed it to climb 38% and significantly outperform its great rival, the Dutch Randstad, on the stock market.
Although he recognizes that Adecco has a more diversified economic model than most of its competitors, the broker believes that the Swiss group will have difficulty escaping the hardening economic situation which is taking shape this year.
Its price target is thus reduced from 45 to 43 Swiss francs.
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