Intertek: Oddo still a buyer

(CercleFinance.com) - Oddo BHF has reiterated its "outperform" rating on Intertek shares, along with its target price of 4,500 pence, despite the British inspection and certification services group's announcement of slightly lower-than-expected revenues.


The analyst believes that the stock has suffered from a severe performance this year, falling 31% YTD (compared to -11% for Bureau Veritas and -26% for SGS), while Intertek's relative valuation seems favourable in terms of P/E and EV/EBIT for 2023.

The publication underpins analysts' view that the derating gap has narrowed since the beginning of the year in relation to Bureau Veritas, while Intertek is still better valued than BV, even after the first half of the year.


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