(News Bulletin 247) – Jefferies maintains its ‘buy’ recommendation on Bureau Veritas, its favorite value in the ICT services sector (testing, inspections and certifications), with a price target raised by 7% to 30 euros.
Reviewing TIC names after annual results and a year of relative underperformance, the broker says it expects better performance in 2023, but ‘remaining selective with relatively full valuations’.
“Bureau Veritas is our preferred bet on a favorable end-market mix and strong execution,” said Jefferies, which is raising its EPS estimates for the French group by 4% for 2023 and 3% for 2024.
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