Broker snap: JP Morgan upgrades Adecco

The analysts at JP Morgan upgraded their recommendation for Adecco, the Swiss recruitment giant, from underweight to overweight due to the positive outlook for future earnings. They also raised the price target from 54.40 to 72.80 Swiss francs."On a mid-term view, we view Adecco as best positioned to deliver a higher peak in margins and earnings due to its geographic profile and growing professional staffing exposure," explain these analysts.At this time, Adecco is the only bullish component on the SMI benchmark index with a 1.36% gain to 55.85 Swiss francs.J.M.