Eurofins: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse reaffirms its "outperform" rating on the Eurofins Scientific share and raises its target price from 530 euros to 540 euros, highlighting "Resilient growth and improving FCF" in the bio-analysis group's latest publication.
Although it has cut its EPS estimates for Eurofins by 3% to 4% over the period 2020-22, due to a higher tax rate, the broker has raised its FCF to equity forecasts by 10% in 2020 and by 4%-7% in 2021-22.
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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.
Although it has cut its EPS estimates for Eurofins by 3% to 4% over the period 2020-22, due to a higher tax rate, the broker has raised its FCF to equity forecasts by 10% in 2020 and by 4%-7% in 2021-22.
Copyright (c) 2020 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.