Bureau Veritas: stock penalised by Morgan Stanley

(CercleFinance.com) - Bureau Veritas is one of the biggest fallers in the SBF 120 index on Monday, suffering from a downgrade by Morgan Stanley.


In comments on to European business services providers, Morgan Stanley reminds us that the certification and audit specialist has had a good run over the past 12 months.

In 2021, its share price has risen by over 35%, while its peers Intertek and SGS have risen by only 14% and 2% respectively, the broker points out.

As a result, Morgan Stanley has downgraded the stock from "overweight" to "equal weight", believing that the current valuation level incorporates the scenario of potential good news.



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