Eurofins: Berenberg recommends profit taking
(CercleFinance.com) - On Monday Berenberg downgraded its rating on Eurofins Scientific shares from "buy" to "hold", although nudged up its target price for the share from 95 euros to 105 euros.
In a report, the German broker recommends that investors take some profits on the stock, as the "cycle" behind its good performance is coming to an end, it says.
Eurofins shares have performed exceptionally well this year, even after their recent downturn, it added, with the stock having increased almost 60% YTD, which represents a 175% leap from last year's lows and a rise of 220% since the broker upgraded the share to buy at end-2018.
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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.
In a report, the German broker recommends that investors take some profits on the stock, as the "cycle" behind its good performance is coming to an end, it says.
Eurofins shares have performed exceptionally well this year, even after their recent downturn, it added, with the stock having increased almost 60% YTD, which represents a 175% leap from last year's lows and a rise of 220% since the broker upgraded the share to buy at end-2018.
Copyright (c) 2021 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.