Eurofins: Oddo expects group to exceed targets

(CercleFinance.com) - Oddo has confirmed its buy rating on the stock, with a target price of 543 euros, after the group's announcement of the acquisition of Lab Frontier Co in South Korea.


This company has been the market leader in high-end analysis and scientific instruments for over 40 years in South Korea.

Oddo said that it still believes that Eurofins will exceed its annual target of 200 million euros in acquired sales, with a favourable lever and funding capacity.

This acquisition will enable Eurofins: i/ to expand its presence in Asia, which is in line with its strategy to expand in emerging countries, as underlined at its Roadshow in March, ii/ to continue its build up with around a dozen bolt-on acquisitions since the start of 2018, Oddo analysts add.

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