Recommendation and upside: We are initiating coverage on Eurofins Scientific (market cap. of c.€7.2bn and a float of c.58%) with a Reduce recommendation and a target price of €393 (c.8% downside). While we acknowledge the company’s dominant position in the attractive bioanalytical industry, its robust growth prospects, superior technical know-how and its successful value accretive M&A history, we believe the current share price (saw a rally of c.26% over the last three mon
25 Oct 2016
Initiating coverage on Eurofins Scientific.
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Initiating coverage on Eurofins Scientific.
Eurofins Scientific SE (ESF:WBO) | 0 0 1.6% | Mkt Cap: 8,723m
- Published:
25 Oct 2016 -
Author:
Jyoti Prakash -
Pages:
40
Recommendation and upside: We are initiating coverage on Eurofins Scientific (market cap. of c.€7.2bn and a float of c.58%) with a Reduce recommendation and a target price of €393 (c.8% downside). While we acknowledge the company’s dominant position in the attractive bioanalytical industry, its robust growth prospects, superior technical know-how and its successful value accretive M&A history, we believe the current share price (saw a rally of c.26% over the last three mon