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Eurofins: Crédit Suisse raises target price

( - Crédit Suisse is maintaining its "outperform" rating on the Eurofins Scientific share, while raising its target price from 735 euros to 760 euros.

While Covid tests accounted for 22.7% of Q3 organic growth, the analyst believes that the longer-term outlook remains "solid". Indeed, " Covid related revenues rose from E55m in July to c.E100m in September, with scope to increase through Q4 as capacity and global demand has risen," the broker says.

Crédit Suisse is thus adjusting its EPS by 2% for 2021-2022. From 2022, the analyst expects organic growth of +5% and in 2023 forecasts FCF to be triple its level in 2018.

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