Jefferies maintains its 'buy' recommendation on Bureau Veritas, its favorite stock in the ICT services sector (testing, inspection and certification), with a price target raised by 7% to 30 euros.

Re-examining the ICT names after annual results and a year of relative underperformance, the broker says it expects better performance in 2023, but 'remains selective with relatively full valuations'.

Bureau Veritas is our preferred bet on a favorable end-market mix and solid execution', says Jefferies, which raises its EPS estimates for the French group by 4% for 2023 and 3% for 2024.

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