(Boursier.com) — Office Veritas fell 2.6% to 23.40 euros, while the group recently announced the acquisition of Galbraith Laboratories Inc, an expert in advanced analytical solutions in North America. This acquisition strengthens Bureau Veritas’ position in the Consumer Healthcare and Industrial Chemicals supply chain, connecting our existing services to support upstream research and product development, from manufacturing to the end consumer. .
Galbraith Laboratories provides analytical testing solutions to a wide range of industries including chemical, healthcare, cosmetics, consumer products, manufacturing and environmental. The company benefits from a solid reputation by supporting many of its clients’ analytical challenges, thanks to tailor-made methods and specific industrial knowledge. Founded in 1950 and based in Knoxville (Tennessee, USA), the company employs approximately 70 people and generated revenue of €8 million in 2021.
Among the latest brokers’ opinions, JP Morgan has adjusted its target price from 24 to 23 euros with an opinion to ‘underweight’. Based on a strong sales pipeline through the diversified portfolio and significant growth opportunities related to offering sustainability services and solutions, and assuming there will be no new lockdowns related to the Covid-19 in its main countries of activity, Bureau Veritas still expects for 2022 to achieve mid-single-digit organic revenue growth, improve adjusted operating margin and generate sustained cash flow at a high level, with a cash conversion rate above 90%…
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