April was another impressive month for Eurofins with sustained COVID-19-related revenue and accelerated organic growth momentum in the core business, aided by soft comparables. In ytd FY2021 (to April), the group registered organic growth of c.50% yoy. We will revise our financial estimates and target price upwards to incorporate the strong trading update. However, we reaffirm the cautious stance given the expensive valuation.
04 Jun 2021
Core business continues to accelerate, while COVID-19-related contributions remain elevated
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Core business continues to accelerate, while COVID-19-related contributions remain elevated
- Published:
04 Jun 2021 -
Author:
Vansh Mehta -
Pages:
3
April was another impressive month for Eurofins with sustained COVID-19-related revenue and accelerated organic growth momentum in the core business, aided by soft comparables. In ytd FY2021 (to April), the group registered organic growth of c.50% yoy. We will revise our financial estimates and target price upwards to incorporate the strong trading update. However, we reaffirm the cautious stance given the expensive valuation.