Bureau Veritas SA
BVI: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€33.00 | Rsrggsx | Wsyxxzvm |
Bureau Veritas Earnings: Tailwinds in ESG-Related Services Lead to Strong Growth
Narrow-moat Bureau Veritas' successful run continued in the second quarter of 2024 as it posted organic revenue growth of 10%, citing their 28 strategy. Management upgraded their guidance to high-single-digit organic revenue growth from a mid- to high single digit previously and guided for improved adjusted operating margins, although they did not give a figure. We reiterate our EUR 30 fair value estimate and see the stock as fairly valued following the July 26 price increase.