Intertek: Stifel still says 'sell'

(CercleFinance.com) - Stifel maintains its "sell" rating on Intertek shares, with an unchanged target price of 3,400 pence.


The analyst says that results for the July-October period were in line with consensus, although potentially a touch better than feared given cautious expectations.

"Yet, we note the continued sluggish momentum in the Consumer Products division and the key Softlines and Hardlines division showing negative y/y growth over the period," Stifel points out.

Intertek has confirmed its outlook for FY 2023, an unsurprising update for Stifel, which nevertheless remains cautious about the stock, as it sees downside risk to margin expectations.


Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.