Intertek Group PLC (LSE:ITRK)<\/a> could unlock significant value after a better-than-expected rebound in trading and a proposed break-up of the business, according to analysts.<\/p>\nUBS analysts said the group\u2019s unscheduled update showed organic growth recovered to a “good” level of 5.4% in the first quarter, a clear improvement on the weak 1.9% seen at the end of 2025.<\/p>\n
This was “better than feared” and ahead of expectations across most divisions, particularly in higher-margin areas such as Corporate Assurance and Consumer Products.<\/p>\n
Attention has now shifted to the newly announced strategic review, which will assess a sale or demerger of the Energy & Infrastructure division.<\/p>\n
UBS said the move could “unlock material upside”, arguing the current structure has contributed to a prolonged share price de-rating.<\/p>\n
The division accounts for around 46% of revenue but only 27% of profit, reflecting lower margins and more volatile end markets.<\/p>\n
Analysts at Jefferies said if the company shifts towards two standalone, specialist portfolios, it would enable “sharper execution and capital allocation”.<\/p>\n
They noted that the Testing & Assurance arm offers higher margins and lower cyclicality, while Energy & Infrastructure is a lower-margin business that could attract interest from strategic buyers amid wider consolidation in the testing, inspection and certification sector.<\/p>\n
A higher-quality Testing & Assurance business with stronger growth and margins could justify a higher valuation multiple, UBS said.<\/p>\n
With any changes expected to be announced by mid-2027,\u00a0UBS kept its ‘buy’ rating and 6,000p price target, implying around 40% upside from current levels. Jefferies also has a ‘buy’ rating and\u00a04,800p target.<\/p>\n","protected":false},"excerpt":{"rendered":"Intertek split in two ‘could unlock material upside’, says UBS Proactive uses images sourced from Shutterstock Intertek Group…\n","protected":false},"author":2,"featured_media":49602,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[129],"tags":[28403,2365,1010,28402,223,1966],"class_list":{"0":"post-49601","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ubs","8":"tag-assurance-business","9":"tag-consumer-products","10":"tag-energy-infrastructure","11":"tag-intertek","12":"tag-ubs","13":"tag-ubs-proactive"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116411404533413994","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/49601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=49601"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/49601\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/49602"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=49601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=49601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=49601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"Intertek](\"https:\/\/www.europesays.com\/ch\/wp-content\/uploads\/2026\/04\/bb86fafa0e3d62d1f92b751437db7f4d.jpeg\")
Intertek split in two ‘could unlock material upside’, says UBS Proactive uses images sourced from Shutterstock <\/p>\n