(CercleFinance.com) – Stifel maintains its ‘sell’ recommendation on Intertek shares, with an unchanged price target of 3,400 pence.
The analyst reports that the results for the period from July to October turned out to be in line with general expectations, or even a little better compared to conservative expectations.
‘However, we note continued sluggish momentum in the Consumer Products division as well as the key Softlines and Hardlines divisions which posted negative year-on-year growth over the period,’ Stifel points out.
Intertek confirmed its outlook for the 2023 financial year, an unsurprising update for Stifel which nevertheless indicates remaining cautious on the stock, as it perceives a risk on margin expectations.
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