Eurofins Scientific: Berenberg raises target price

(CercleFinance.com) - Berenberg announced Thursday that it has raised its price target for Eurofins Scientific from E65 to E69, while renewing its buy recommendation on the stock.


The analyst stresses that now that revenues linked to the Covid pandemic have returned to zero, investors will once again be able to focus on the core businesses of the French bio-analysis giant.

In this respect, the broker says it expects 2024 sales to be 1% above current consensus projections, with adjusted Ebitda 1.6% above market forecasts, due to the operating leverage it believes the Group enjoys.


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