ADECCO sets the right course!

Unfortunately, the shares of the recruitment agency ADECCO also fell again along with the entire market. Our initial value in the sample portfolio of CHF 29.98 and the target price of CHF 33 seemed to be within reach! More and more securities houses are becoming more optimistic and at the end of March even a major house took up the cudgels for ADECCO shares: Goldman Sachs issued a "buy" recommendation with a price target of CHF 42, after many experts had been standing on the sidelines with a "neutral" rating since May 2020, i.e. for almost 5 years now. Apparently, the figures and strategy have now sufficiently convinced the experts. In particular, they emphasize that ADECCO's comments on the development in 1Q25 are in contrast to competitors such as Randstad, which is also due to the company's own strategy. And the current uncertainty is not an obstacle either; on the contrary, it could have a positive effect thanks to the increased demand for temporary workers. Has everything fundamentally changed now with the American wage chaos? The planned return of production to the USA should exacerbate the existing shortage of skilled workers and in Europe, where infrastructure programs worth billions are planned, there is also a shortage of skilled workers! Good for ADECCO!

ADECCO's strategic focus on high-quality recruitment is absolutely right. The partnership with the US tech group Salesforce is also part of this. They are founding a joint company that will support companies with AI-based personnel planning, personnel management and staffing. Customer data, ADECCO Group data and the Salesforce AI platform Agentforce with its marketplace "Agentexchange" will be used in combination. With this innovative joint venture, ADECCO is also showing that it is setting the right course! The company's potential is now slowly but surely being unleashed! Our price target remains, as before, at CHF 33!