Eurofins: stock leaps on broker upgrade
(CercleFinance.com) - The Eurofins Scientific has jumped nearly 8% today, boosted by broker Jefferies, which has upgraded its rating on the share of the provider of bio-analysis services from "hold" to "buy," while upping its corresponding target price from 500 euros to 525 euros.
Yesterday's increase in target sales demonstrated that Eurofins' M&A teams have been busier than we initially expected, the broker said.
In addition to faster growth, the broker expects accelerated organic growth in the second quarter and a comfortable path towards an EBITDA margin of 20% in 2020. It has therefore increased its 2019 EPS estimate by 10%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Yesterday's increase in target sales demonstrated that Eurofins' M&A teams have been busier than we initially expected, the broker said.
In addition to faster growth, the broker expects accelerated organic growth in the second quarter and a comfortable path towards an EBITDA margin of 20% in 2020. It has therefore increased its 2019 EPS estimate by 10%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.