Adecco stock tracks Q2 growth as BofA lifts its price target

Published on 10/03/2026 at 22:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adecco stock carries a CHF 25.50 BofA target dated September 18, 2026. Q2 organic revenue rose 5.6 percent, while adjusted EBITA climbed 21 percent year over year.

Adecco, CH0012138605, Illustration mit AI erstellt.

Adecco Group AG (CH0012138605) was last at CHF 23.80 on the SIX Swiss Exchange on October 2, 2026 at 5:30 p.m. CEST, down 0.92 percent from CHF 24.02. The latest analyst move came from BofA, which raised its price target to CHF 25.50 from CHF 16.40 on September 18, 2026.

BofA target moves above the quote

The new BofA target stands 7.1 percent above Adecco stock's CHF 23.80 reference price. According to Markets Insider on September 18, 2026, the broker upgraded Adecco to Neutral from Underperform and linked the change to the recent share pullback.

The broader analyst picture is more balanced than the target increase alone suggests. A September 10, 2026 Jefferies update raised the rating to Hold from Underperform and lifted the target to CHF 20.50 from CHF 13.50, according to Yahoo Finance.

Q2 growth improves operating leverage

Adecco's second-quarter operating figures supplied the foundation for the recent target revisions. According to Yahoo Finance, Q2 2026 organic revenue rose 5.6 percent year over year on a 20-day adjusted basis, while adjusted EBITA excluding one-offs increased 21 percent to EUR 165 million.

The quality of that growth is visible in the margin data. Adjusted EBITDA margin expanded 30 basis points year over year to 2.8 percent, while adjusted EPS increased 31 percent in Q2 2026, the same earnings-call source reported. Management also described a modest sequential improvement in growth margin for Q3 and lower sequential SG&A expenses excluding one-offs.

Stock stays below its yearly high

At CHF 23.80, Adecco stock traded 9.2 percent below its 52-week high of CHF 26.22 and CHF 9.26 above its 52-week low of CHF 14.54 on October 2, 2026. The session range was CHF 23.50 to CHF 24.24, with volume of 597,207 shares.

The market capitalization stood at CHF 4.1 billion on October 2, 2026. The combination of improving organic growth, higher adjusted EBITA and a still-negative 0.92 percent daily move leaves execution and margin delivery as the central valuation test.