SGS: Oddo BHF downgrades 'buy' rating
(CercleFinance.com) - On Wednesday in an equity report on European companies operating in the inspection and certification sector Oddo BHF downgraded its rating on SGS from "buy" to "reduce" with a target price of 2450 Swiss francs.
The analyst says that the sector is expensive, rightly reflecting its defensive nature, although we still see a potential for a rerating of Applus and Bureau Veritas: he has a "buy" rating on both these shares, with respective price targets of 14.5 euros and 25 euros.
Oddo BHF is more convinced about Intertek's resilience, having upgraded its "reduce" rating to "neutral," with a target price of 5500 pence, although it is less confident in its expectations for SGS.
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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.
The analyst says that the sector is expensive, rightly reflecting its defensive nature, although we still see a potential for a rerating of Applus and Bureau Veritas: he has a "buy" rating on both these shares, with respective price targets of 14.5 euros and 25 euros.
Oddo BHF is more convinced about Intertek's resilience, having upgraded its "reduce" rating to "neutral," with a target price of 5500 pence, although it is less confident in its expectations for SGS.
Copyright (c) 2019 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.