(CercleFinance.com) – Vetoquinol loses more than 10% in Paris, penalized by an analysis by Oddo BHF which lowers its rating on the stock from ‘outperformance’ to ‘neutral’, while reducing its target price to 151 euros, against 158 euros previously.
While Vetoquinol’s turnover came out at 135 ME in the 1st quarter, in line with expectations (134.1 ME), Oddo believes that the market momentum is slowing down a little, as the 2021 base was so high. Thus, ‘the volumes appear less dynamic’, indicates the analyst.
Vetoquinol also makes it known that its environment is subject to pressure on the cost of raw materials, energy and transport. According to Oddo, the company should therefore raise its prices again in the 2nd quarter.
“This tone and our discussions with the company (on Q1 sales and following the publication of annual results) invite us to slightly adjust our 2022 forecasts: -2%e on ROC”, indicates Oddo.
The analyst thus estimates that if the fundamentals remain good, ‘the momentum will deteriorate’.
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