Bureau Veritas: Feed back/Contact: Confident
BUY, Fair Value EUR29 vs. EUR31 (+27%)
Despite lower lfl revenue growth than initially anticipated and limited EBIT margin improvement, management is confident for the rest of the year confirming all its short- and medium-term guidance. Nevertheless, and taking into account H1 results, we have slightly reduced our forecasts. We confirm our buy recommendation with a fair value of EUR29 vs. EUR31 previously.
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