Deutsche Bank Upgrades Adecco to Buy, CHF22

Rating Action on Adecco Group AG

Deutsche Bank upgraded Adecco Group AG (SIX:ADEN) from a Hold to a Buy rating on Thursday, while maintaining its price target at CHF 22 per share.

Rating Action on PageGroup

The same analyst note confirmed a Buy rating on PageGroup (LON:PAGE) but reduced the price target to 210 pence, down from the previous target of 260 pence.

Macro Outlook for Recruitment Markets

Deutsche Bank highlighted that confidence across global recruitment markets remains fragile. The United States is identified as the clearest source of growth, whereas uncertainty in the Middle East is prompting corporations to postpone hiring decisions. The bank observed that the impact on labor markets has been less severe than initially feared, yet conviction in a broad‑based labor‑market recovery remains limited.