July 2, 2019 / 2:18 PM / 4 months ago

BUZZ-Intertek: "Less disruption" from China-U.S. trade war - Jefferies

** Shares of British testing company up 1.3% at 5,694 pence

** Jefferies raises PT to 5,900 pence from 5,150 pence

** Jefferies raises ITRK’s FY 2019 EPS estimates by 3-6%, which is 1% ahead of consensus, and sees 4% EPS growth in FY 2020

** “We update forecasts to account for less disruption from China/U.S. trade wars and the positive swing in (acquired unit) Alchemy’s profitability,” Jefferies says

** “The accelerating organic growth profile through FY19 is appealing and margin levers have more to do” - Jefferies

** “Despite the tariff hike to 25%, growth has remained good in the consumer products businesses, as customers continue to invest, whether in China or elsewhere” - Jefferies (Reporting by Justin George Varghese in Bengaluru)

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