Eurofins Scientific reported a Q3 FY23 trading update largely in line with the consensus and our estimates. Organic sales in the core business outpaced the decline in COVID-19 related revenue for the first time since the start of the pandemic. Nevertheless, the management confirmed the targets for FY23. As a result, the market reaction remained mixed: the shares were up 2.8% at the open before falling to -1.4% (at the time of writing). We reiterate our positive stock recommendation.
