Intertek upgraded by Societe Generale

Societe Generale has removed testing, inspection and certification services provider Intertek (LON:ITRK) from its list of stocks to avoid and moved to a more moderate 'hold' recommendation (previously 'sell' rated) following the recent decline in the share price.

The broker pointed out that the shares have dropped almost 15 per cent from recent highs, adding that the fundamentals now look more correctly priced and highlighting that the stock offers a 9 per cent 12 month projected TSR.

Analysts have lifted their target by 3 per cent to 3,400 pence a share (from 3,300 pence).

At 2:26pm: (LON:ITRK) Intertek Group PLC share price was +42p at 3222p