At 10:20 a.m., the registered Givaudan dropped 6.3% to 2,838 francs, the red lantern of an SMI down 0.57%.
The behemoth of flavors and fragrances Givaudan was battered on the Swiss Stock Exchange on Tuesday. The Verniolane multinational has certainly remained on the path to growth over the first nine months of the year, but at a slower rate than expected by analysts.
At 10:20 a.m., the registered Givaudan dropped 6.3% to 2,838 francs, the red lantern of an SMI down 0.57%.
The Taste and Well-Being segment in particular turned out to be weaker than expected, notes Baader Helvea in a morning comment. The Geneva broker is nevertheless sticking to its “add” recommendation, with a target price of 3,500 francs.
The deceleration observed in the third quarter was expected, underlines Vontobel. The Zurich management bank also highlights the compensation for the higher cost of inputs through price increases agreed with customers. The “buy” recommendation remains in place, like the price target of 3,800 francs.
Givaudan remains faithful to its habit of not delivering any short-term forecast, but renews its ambition for organic growth by 2025, notes the Zurich Cantonal Bank (ZKB), which continues to recommend overweighting the title. The Geneva firm has valuable defensive qualities in the event of a recession next year, supports the cantonal establishment.
