Adecco price target lowered to CHF 40 from CHF 42 at Barclays

Barclays lowered the firm’s price target on Adecco to CHF 40 from CHF 42 and keeps an Overweight rating on the shares. The analyst believes cutting the dividend could alleviate some of Adecco’s balance sheet concerns and help change what it considers to be an “unfair market perception” that the company is more vulnerable to the cycle than peers.