Deutsche Bank raises Adecco stock target to CHF 32

Published on 10/20/2026 at 22:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached CHF 5.99 billion, up 3.63 percent. Adecco stock costs EUR 22.85 on October 20, 2026 in after-hours trading.

Analyst target and earnings

Deutsche Bank raised its Adecco target from CHF 22.00 to CHF 32.00, as reported on October 17, 2026.
Second-quarter revenue reached CHF 5.99 billion, while net profit was CHF 46.98 million.
Adecco stock costs EUR 22.85 at Lang & Schwarz on October 20, 2026 at 10:06 p.m. CEST.

Adecco, CH0012138605, Illustration mit AI erstellt.

Adecco (ISIN CH0012138605) received a more constructive valuation signal after Deutsche Bank raised its price target from CHF 22.00 to CHF 32.00 while keeping a Buy rating, as Yahoo Finance reported on October 17, 2026. Adecco stock was trading at EUR 22.85 at Lang & Schwarz on October 20, 2026 at 10:06 p.m. CEST.

Revenue grew in the second quarter

The latest reported quarter showed growth alongside a weaker bottom line. Adecco generated CHF 5.99 billion in revenue in the quarter ended June 30, 2026, up 3.63 percent from CHF 5.78 billion a year earlier, while net profit fell 19.00 percent to CHF 46.98 million from CHF 58.00 million, according to Markets Insider.

The stock stays within its yearly range

Adecco last traded at CHF 21.12 on the SIX Swiss Exchange on October 20, 2026 at 5:30 p.m. CEST. Its 52-week range runs from CHF 14.54 to CHF 26.22, placing the price 19.45 percent below the high and 45.25 percent above the low. Trading volume reached 327,378 shares, while market capitalization stood at CHF 3.7 billion.

Valuation leaves two signals

The price-to-earnings ratio was 13.25 and the trailing dividend yield was 5.00 percent on October 20, 2026. Deutsche Bank's CHF 32.00 target is 51.52 percent above the SIX price of CHF 21.12, a wide gap that puts execution and profit conversion alongside revenue growth in the valuation debate.

Margin ambition remains central

Adecco's investor materials describe a strategy built around talent, technology and transformation. The company targets an EBITA margin of 3.00 to 6.00 percent through the cycle, with 6.00 percent possible in a supportive economic environment, and says its capital allocation policy uses a 40.00 to 50.00 percent adjusted earnings-per-share payout ratio, according to Adecco Group.

Price and target in separate currencies

The euro quotation gives German investors a current after-hours reference, while the analyst target and the SIX quotation are denominated in Swiss francs. That distinction matters: the 51.52 percent target distance compares CHF values only and does not translate the euro quotation into a forecast.

Adecco stock was trading at EUR 22.85 at Lang & Schwarz on October 20, 2026 at 10:06 p.m. CEST. On the SIX Swiss Exchange, the stock last traded at CHF 21.12 on October 20, 2026 at 5:30 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Adecco stock.