Givaudan: UBS maintains 'buy' rating after 'solid' results
(CercleFinance.com) - UBS on Thursday said that it is maintaining its "buy" rating on Givaudan, seeing more upside after the Swiss fragrance and flavouring company posted "solid" results.
The broker pointed out that the company has continued to deliver, with organic growth of 2.8% in the second quarter.
While it maintains its target price at 3,900 Swiss francs, UBS highlighted a 4,400 francs blue-sky scenario, based on potential for pleasant surprises (market share gains, plant-based protein opportunity) and profitability (gross margin, integration synergies), with the group's upcoming investor meeting as the next catalyst.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker pointed out that the company has continued to deliver, with organic growth of 2.8% in the second quarter.
While it maintains its target price at 3,900 Swiss francs, UBS highlighted a 4,400 francs blue-sky scenario, based on potential for pleasant surprises (market share gains, plant-based protein opportunity) and profitability (gross margin, integration synergies), with the group's upcoming investor meeting as the next catalyst.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.