Intertek Expands into Brazil with TESIS Acquisition

Intertek ( (GB:ITRK) ) just unveiled an announcement.

Intertek has announced its acquisition of TESIS, a leading building products testing company based in São Paulo, Brazil, as part of its strategy to expand its Building & Construction Total Quality Assurance business into Brazil’s growing construction industry. This move is driven by increasing demand for building products testing services due to new legislation and government-backed programs in Brazil, and it positions Intertek to capitalize on high-growth opportunities in a market valued at $120 billion, expected to grow at 4.8% annually until 2033.

Spark’s Take on GB:ITRK Stock

According to Spark, TipRanks’ AI Analyst, GB:ITRK is a Outperform.

Intertek’s strong financial performance and positive earnings call insights are key strengths, supported by robust revenue growth and shareholder-friendly initiatives like share buybacks. However, technical analysis suggests potential short-term risks, and the stock’s valuation indicates it is fairly priced, warranting cautious optimism.

To see Spark’s full report on GB:ITRK stock, click here.

More about Intertek

Intertek is a leading Total Quality Assurance provider to industries worldwide, offering Assurance, Testing, Inspection, and Certification solutions through a network of more than 1,000 laboratories and offices in over 100 countries.

YTD Price Performance: -1.86%

Average Trading Volume: 645,997

Technical Sentiment Signal: Hold

Current Market Cap: £7.39B

For detailed information about ITRK stock, go to TipRanks’ Stock Analysis page.