Eurofins Scientific: share price rises, with support from an analyst
November 14, 2023 at 06:40 am EST
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Eurofins Scientific shares were up on Tuesday on the Paris Bourse, buoyed by positive comments from Barclays analysts.
In a research note released in the morning, the British investment bank pointed out that both Q3 results and the group's recent investor day had highlighted progress on pricing and an increased focus on profit margins in Europe.
Despite the volatility of its share price, Eurofins is a sustainable and defensive company which we believe will be able to generate a total shareholder return (TSR) of around 15% over the coming years", Barclays points out.
While it reiterates its 'overweight' recommendation on the stock, the London-based bank adjusts its price target to 60 euros, from 70 euros previously.
At around 12:30 pm, the bio-analysis specialist's share price was up 0.7%, but was still down 25% since the start of the year.
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Eurofins Scientific SE is one of the world's leading providers of bio-analytical services. The group's services are intended to validate the safety, authenticity, origin, identity, and purity of biological substances contained in the environment (water, air, soil, etc.) and in food, pharmaceutical, cosmetic, and hygiene products.
At the end of 2023, Eurofins Scientific SE owned a portfolio of over 200,000 analytical methods and had 900 laboratories located throughout the world.
Net sales are distributed geographically as follows: Europe (50.7%), North America (38.5%) and other (10.8%).
EUROFINS SCIENTIFIC SE 
