Virbac: Oddo downgrades stock

(CercleFinance.com) - Oddo BHF has downgraded Virbac shares from "outperform" to "neutral", due to the lack of upside relative to its target price, which it has maintained at E293, after a quarterly trading update that does not provide any momentum.


However, the broker says that the softness in sales seems temporary and says it remains "fundamentally positive", because in its French midcap health universe, animal health offers a defensive profile.

Analysts' overall perception has changed little: in the short term (2023), the momentum will not be very buoyant as the veterinary market is suffering from unfavourable comparison basis effects, while beyond that, growth and margins will improve, they conclude.


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