Givaudan: broker comments weigh on stock
(CercleFinance.com) - Negative broker comments have hit the share of Swiss flavors and fragrances maker Givaudan on Monday, resulting in them falling by over 4% after Jefferies initiated its coverage of the stock with an "underperform" rating.
The broker said in a research note on the ingrediets sector that "Givaudan's valuation has de-coupled from growth expectations, and we see competitive pressures and a stretched balance sheet more than offsetting gains from the new medium-term strategy".
Jefferies has a target price of 3,300 Swiss franc for the share.
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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 said in a research note on the ingrediets sector that "Givaudan's valuation has de-coupled from growth expectations, and we see competitive pressures and a stretched balance sheet more than offsetting gains from the new medium-term strategy".
Jefferies has a target price of 3,300 Swiss franc for the share.
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.