Eurofins Scientific loses more than 5% under the weight of a downgrade by Jefferies from 'hold' to 'underperform', with a price target reduced from 70 to 58 euros, considering that its valuation 'seems unattractive'.

Acknowledging that Eurofins shares have had a difficult 2022, the broker believes that the challenges facing the bio-analysis provider 'could continue into 2023', and sees a risk to earnings consensus in the near term.

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