While lowering its target price from 29 to 28 euros, Stifel reaffirms its 'buy' recommendation on Bureau Veritas, which remains its favorite European stock in the inspection and certification services sector.

In the section of the note devoted to the company, the broker states that it expects the French group to maintain the best earnings momentum among its peers, thanks to outperforming sales growth.

In his view, the recent decline in the share price offers a good entry point ahead of the half-yearly publication, with 'its stronger profile not reflected in the valuation, with the stock still trading at a discount of around 20% to SGS'.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.