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Eurofins: stock falls on broker downgrade

( - Eurofins Scientific shares are down over 5%, weighed on by a downgrade from Jefferies analysts, who are now sellers ("underperform" rating), from "hold" previously, having reduced their target price for them from 70 euros to 58 euros, considering that the stock's valuation now seems unattractive.

Acknowledging that Eurofins shares had a difficult 2022, the broker believes that the challenges facing the bio-analytical provider could continue into 2023, and sees a risk to the near-term earnings consensus.

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