Vetoquinol shares shoot up on 'excellent momentum' in Q3

Vetoquinol SA

15/10/2021 09:37

** Shares in Vetoquinol  VETO.PA  rise 2.7%, paring earlier
gains of 4.7%, after the French animal health group's topline
beat expectations in the third quarter
    ** Vetoquinol Q3 revenues increased by 14.3% to EUR 132.3
mln ($153.64 mln) year-on-year, against a Portzamparc estimate
of EUR 129 mln  urn:newsml:reuters.com:*:nASN001RGS
    ** "The momentum remains excellent and the group continues
to gain market share, mainly in the 'companion animals products'
segment," the broker ("buy") notes
    ** All strategic territories were up at constant exchange
rates while all species outperformed their respective markets,
the company said in a statement
    ** The group also confirmed its 2021 objective of
double-digit growth in its activity and current operating income
    ** Midcap Partners cuts it to "hold" from "buy" following
its 2022 estimates adjustment, but raises its TP to EUR 129 and
Portzamparc to EUR 157
    ** Of six analysts covering the stock of Vetoquinol, which
is up nearly 76% year-to-date, five rate it "strong buy" or
"buy" and one rates it "hold"

($1 = 0.8611 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))