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Bureau Veritas: the title against the tide thanks to Jefferies


(CercleFinance.com) – Bureau Veritas rose slightly on the Paris Stock Exchange on Friday, sailing against the tide of the rest of the rating, while Jefferies analysts reiterated their buy recommendation on the stock, accompanied by a target price raised from 30 to 31 euros.

Shortly before 4:00 p.m., the action of the French certification specialist nibbles 0.1%, while the SBF 120 index yields 0.7%.

In a note devoted to European business service providers, Jefferies says Bureau Veritas is one of its favorite stocks (‘top picks’) alongside Rentokil and Ashtead in particular.

Although it is more cautious about the macroeconomic environment – which leads it to revise its earnings forecasts for the group downwards – the broker says it remains positive on the stock because of the quality of the company and the resistance of its activity.

“We continue to appreciate its exposure in terms of end markets and we believe that the theme of sustainable development will begin to support its turnover more markedly from the 2022/2023 financial year,” explains Jefferies.

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