Eurofins: Berenberg still a buyer, but slashes TP

(CercleFinance.com) - On Thursday Berenberg said that it had reduced its target price for Eurofins Scientific shares from E105 to E65, while maintaining its Buy rating on the stock.


In its comments, the broker says that the testing, inspection and certification sector has been badly hit on the stockmarket this year, with Eurofins having suffered the worst.

With the end of the Covid pandemic, investors' attention has once again been focused on core activities, margin trends and cash flow optimisation, it points out.

From this point of view, the analyst believes that the market's interest in the bio-analysis specialist is "undervalued", and adds that the medium-term targets set by the company are well within reach.

It believes that the share price will rise again once the concerns surrounding the financing of the group's growth have fizzled out.


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