(CercleFinance.com) – Virbac is the worst performer in the SBF120 with a decline of nearly 4%, weighed down by a downgrading of the recommendation at Stifel from ‘buy’ to ‘hold’, with a price target reduced from 342 to 293 euros on the title of the animal health group.
The broker indicates that it has reduced its 2023-24 estimates for revenues and EPS, pointing in particular to a “combination of lower volumes and high inflation which should put margins under pressure in the first half of the year”.