DB sees Symrise 'earnings momentum turning a corner,' ups to 'buy'
** Deutsche Bank raises German flavour and fragrance maker Symrise SY1G.DE to "buy" from "hold," citing improved earnings momentum
** DB flags positive volume leverage and costs cuts, half of which kick in in H1
** Although the company saw modest price pressure during Q1, it does not seem to be getting worse, the broker says, forecasting a 'solid' Q2/H1 update with H1 EBITDA 3% above consensus
** Based on higher top line and margin assumptions, it raises FY24-26 EPS expectations by 4-6%
** "Earnings momentum turning a corner with consensus upside risk, for the first time in 18 months," DB says
** The brokerage also adds the CEO change should bring more attention to profitability and help realise untapped potential
** The stock is up 1.7%
** Out of 25 analysts that cover Symrise, 13 rate the stock "strong buy" or "buy," ten rate it "hold" and two rate the stock "strong sell"/"sell" - LSEG data
Reporting by Amir Orusov
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
