SGS : Stifel raises its recommendation
The broker added: "Performance in the second half of 2023 and the outlook for 2024 imply a level of short-term profitability below consensus expectations, but estimates have been de-risked as management has unveiled cautious targets.
Noting, however, the share's already vigorous reaction to last week's announcements, Stifel prefers to remain cautious at this stage on the dossier, where certain uncertainties limit visibility, and continues to judge the valuation unattractive.
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