Bureau Veritas: stock resists on broker comments
(CercleFinance.com) - Bureau Veritas shares are resisting on Friday in Paris, pretty much keeping afloat in a bearish market, with analysts at Jefferies reiterateing their buy rating on the stock, while raising their corresponding target price from 30 euros to 31 euros.
Shortly before 4pm, the French certification specialist's shares were down 0.1%, while the SBF 120 index was down 0.7%.
In a report on European business services providers, Jefferies says Bureau Veritas is one of its top picks, alongside Rentokil and Ashtead.
Although it is more cautious about the macroeconomic environment - which has led it to reduce its earnings forecasts for the group - the broker says it remains positive on it because of the company's quality and the resilience of its business.
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