BUREAU VERITAS : Stifel downgrades its recommendation
"We expect some of the factors behind the slowdown in organic growth in the third quarter to continue to weigh in the coming quarters", warns the broker, who reduces its adjusted EPS forecasts by 3-6%.
Stifel forecasts average annual adjusted EPS growth of around 6% over 2022-25, outperforming its peers, and believes that 'there is still a certain misconception about the Group's profile', being perceived as 'more cyclical than it really is'.
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