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UBS has maintained its "Buy" rating for Symrise, setting a target price of 139 euros. Analyst Charles Eden noted an increase in the target for organic sales growth, although the third quarter's organic growth was viewed as partly negative due to heightened investor expectations following strong results from competitor Givaudan.
UBS has maintained a "Neutral" rating for Givaudan, setting a price target of 4,520 francs following an investor event focused on the fragrance business. Analyst Charles Eden noted ongoing discussions regarding the anticipated slowdown in growth within this segment and its potential impact on profitability.
Givaudan AG, a leading global producer of flavors and fragrances, reports that flavors account for 52.1% of sales, while fragrances make up 47.9%. The company operates 78 production sites worldwide, with sales distributed across various regions: Switzerland (1.2%), Europe (29%), Asia-Pacific (24.6%), North America (23.9%), Latin America (12.3%), and Africa and the Middle East (9%).
The Swiss stock market opened lower on Thursday, influenced by a slowdown in consumer price inflation, which rose by 0.8% year-on-year in September. The leading SMI index fell by 0.20%, with 25 of the 30 major stocks declining, while Sandoz, Novartis, and Givaudan were among the few gainers. Analysts anticipate a potential rate cut by the Swiss National Bank in December 2024 due to declining inflation forecasts.
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UBS maintains buy rating for Symrise with target price of 139 euros
09:53 24.10.2024
UBS maintains neutral rating for Givaudan amid fragrance business concerns
07:07 23.10.2024
givaudan maintains strong global presence in flavors and fragrances market
09:23 14.10.2024
swiss stock market opens lower amid declining inflation figures
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