Zacks Analyst Interview Highlights: Adecco, Syngenta and Monsanto.CHICAGO -- Zacks.com releases the latest Analyst Interview. Today's interview is with Zacks Equity Analyst Santiago Burgaleta, who discusses Adecco (NYSE NYSE See: New York Stock Exchange :ADO), Syngenta (NYSE:SYT SYT Sweet Young Thing SYT Save Your Time (software) SYT See You Tomorrow SYT Scottish Youth Theatre SYT See You There SYT Standard Young Tableaux (enumerative combinatorics) SYT South Yorkshire Times ) and Monsanto (NYSE:MON). A synopsis of today's Analyst Interview is presented below. The full article can be read at http://at.zacks.com/?id=2678. What do you think about Swiss company Adecco's recent acquisition of the German company DIS? Does your outlook remain positive on Adecco? We are still buyers of Adecco (NYSE:ADO) on the back of this acquisition. We view the acquisition of DIS AG as a catalyst for Adecco to break out of its trading range Trading Range The spread between the high and low prices traded during a period of time. Notes: When a stock breaks through or falls below its trading range after several days of trading in a range, it usually means there is momentum (positive or negative) building. . DIS is the number one professional staffing company in Germany, and number five in the overall German staffing market, with an estimated market share of 4.8%. It has estimated 2005 sales of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 305 million and an estimated 2005 EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). of EUR 36 million. Margins are along the lines of some of the best in Europe with 12%, with a top-line growth of over 18% in the last five years. It is a less cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. company than the industry as a whole thanks to its high level of specialization. The exposure to the cyclical Industrial sector is far bellow bellow one of the voices of cattle. Usually refers to the arrogant call of the bull used to announce territorial rights. Abnormalities of the voice include hoarseness as in rabies, or continuous repetition as in nervous acetonemia. See also low, moo. the average of 65%, and Engineering represents 29% of revenues. We do not think this acquisition is earnings accretive in 2006, but we believe it represents a positive catalyst for the stock. We think it represents a turning point for Adecco - its professional staffing services exposure will be boosted, and its competitive position in Germany will dramatically improve. Also, DIS enjoys a top management team that will help increasing investors' confidence in Adecco's execution capabilities. In addition, this acquisition nearly doubles the size of Adecco in Germany. This is a step in the right direction, as Germany has the largest employment market in Europe. It diversifies Adecco away from the troubled French market, and it also enhances growth potentials. The German staffing market has a very low penetration rate of nearly 1%, compared to an average of 2.8-3.2% in the rest of Europe. You do have Buy recommendations on other Swiss stocks at this time, don't you? Yes I do. Syngenta (NYSE:SYT) is still a Buy, although now it trades at a premium valuation to its history. We suggested in our last report that investors might need time to digest this premium, but compared to Monsanto (NYSE:MON), it is still undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. . Many investors believe Monsanto is not a comparable because of its bio-genetic business, but SYT is making big progress on this front, and it is still trading at 30-45% discount valuation to Monsanto. We believe this should narrow, giving upside to SYT. Read the full interview at http://at.zacks.com/?id=2647. 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