Oddo BHF has downgraded its opinion on Virbac from 'Outperform' to 'Neutral', in the absence of upside potential in relation to its price target maintained at 293 euros, following a quarterly trading update that 'does not provide any momentum'.

The research firm nonetheless indicates that the softness in sales seems temporary, and declares that it remains 'fundamentally positive', as in its midcap France healthcare universe, animal health offers a defensive profile.

Our overall perception has changed little: in the short term (2023), momentum will not be very buoyant as the veterinary market suffers from unfavorable base effects, while beyond that, growth and margins will improve", he concludes.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.