France's Vetoquinol drops on profit taking
25/01/2024 10:52
** Shares in French animal health group Vetoquinol VETO.PA
fall as much as 10%, with an analyst pointing to profit taking
after they rose 40% in the last three months
** Investors are "taking their profit", Portzamparc analyst
Gaetan Calabro says, adding that the Q1 base effect "will be
very complicated"
** The French animal drugs and products maker reported FY
sales down 1.9% to 529.3 million euros, in line with
expectations
** The broker also cuts its recommendation to "accumulate"
from "buy"
** The stock is down 6% by 1049 GMT
(Reporting by Gaëlle Sheehan, Clément Martinot)
((gaelle.sheehan@thomsonreuters.com; +48 58 7785110;))