Virbac: Stifel upgrades stock

(CercleFinance.com) - Stifel has upgraded Virbac shares from 'hold' to 'buy', with a target price raised from E380 to E390 (corresponding to a 2025 P/E of 20x), believing that the risk/reward ratio is becoming more attractive.


Although decelerating, we believe Virbac has published reassuring figures for the second half of 2024, leading it to slightly exceed expectations on adjusted EBIT for fiscal 2024. It has also confirmed its 2025 and longer-term targets, the broker notes.

The group should continue to slightly outperform long-term growth in the animal health market, Stifel adds, noting that valuation multiples have recently fallen to attractive levels in line with the group's profile.


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