Eurofins Scientific: Bernstein upgrades stock

(CercleFinance.com) - Bernstein has upgraded Eurofins Scientific shares on Tuesday, from "underperformance" to "market perform", increasing its target price for them from E45 to E53.


In its comments, the broker mentions a better balanced risk/return profile following the stock's YTD fall, a decline that neither Q3 results nor the recent CMD managed to offset.

Bernstein believes that the bioanalyst specialist's stock price now integrates "very conservative" earnings estimates.

Although it emphasises that its main concerns remain - thus preventing it from being more positive on the stock - the analyst says he sees limited downside potential given the share's current price level.


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