Bureau Veritas shares are posting one of the strongest gains on the SBF 120 index this Tuesday on the Paris Bourse, buoyed by an upgrade from RBC analysts, who no longer hold a negative view on the stock.
Around 10:00 a.m., shares in the inspection and certification specialist were up 2% at over 26.5 euros, while the SBF 120 edged up 0.3%.
In a note published this morning, analysts at the Canadian bank explained that EQT's takeover bid for Intertek should highlight the French group's market undervaluation compared to its American peers such as UL Solutions or ALS.
Given that the stock has underperformed its peers since the start of the year, the North American firm believes it is unlikely that this gap will widen further.
A sector seen as resilient
While geopolitical and economic uncertainties are currently intensifying, RBC believes the inspection and certification sector should demonstrate a degree of resilience given the diversity of its business lines and geographical footprint. This has led them to upgrade their rating on Bureau Veritas from 'underperform' to 'sector perform'.
Their price target, however, has been adjusted from 26.5 to 26 euros.
RBC analysts also upgraded their rating on Intertek to 'outperform', as well as their recommendation on SGS, which was raised to 'sector perform'.
Bureau Veritas SA is No. 1 worldwide in providing compliance evaluation and certification services applied to the quality, safety, health, environment and social responsibility fields. The group's activity consists of inspecting, analyzing, auditing, and certifying products, assets (buildings, industrial infrastructures, equipment, ships, etc.) and management systems (primarily ISO standards) compared to regulatory or volunteering reference standards. Net sales break down by activity as follows:
- industry and infrastructures (79%): analysis and control of hygiene, safety and environment, inspection and certification of industrial equipment, verification of construction compliance, certification of management systems,
- consumer goods (12.8%);
- marine (8.6%): inspection and classification of ships.
At the end of 2025, the group owns a network of nearly 1,600 offices and laboratories worldwide.
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