Virbac: stock jumps on broker upgrade
(CercleFinance.com) - Oddo BHF has upgraded the share of animal health group Virbac from "neutral" to "outperform", despite reducing its corresponding target price from 425 euros to 400 euros, following better-than-expected Q1 2022 results, accompanied by an increase in annual targets.
The analyst believes that although the valuation ratios of the group's peers has fallen over the past six months, Virbac is still trading at a discount (around 10%).
Contrary to what we could deduce from Vétoquinol's figures for Europe, Virbac is recording sound growth, which means that it should approach 395/400 euros in the near future, he continues.
A hot stock this morning, the share is up almost 10% an hour into trading today.
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