Intertek: shares go against the trend after analyst upgrade

(CercleFinance.com) - Shares of British testing firm Intertek Group are up 1% on Friday after Berenberg upgraded the stock from "hold" to "buy".


In a report on the business services sector, the German broker said that it has also increased its target price for the share, from 5,200 pence to 5,500 pence.

"Overall, we are positive about the sector with no sell ratings," Berenberg wrote in the report.

"However, with valuations generally at the top of their ranges, we think it pays to be selective," it added.

According to the broker, oil and gas, and automotive exposures are now attractive.

Intertek - which offers testing, inspecting and certifying for the entire oil and gas supply chain - rose 1.1% to 4,798 pence, while the FTSE 100 index is currently down 0.6%.

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