Intertek: UBS reiterates buy recommendation

(CercleFinance.com) - The analyst believes that the consumer recovery is showing substantial improvement.
It confirms its Buy recommendation, with a target price of 5900 pence, representing 25% upside potential.

Organic growth of +7.0% y-o-y between January and April 2024 was ahead of expectations, thanks to the acceleration in consumer spending to over 6%. Increased growth momentum offsets negative currency effects, UBS says.

Intertek has reiterated its annual guidance of mid-single-digit organic growth and margin improvement. The inspection and certification services group reported revenues of £1.08bn for the first four months of 2024.


Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.