Symrise slides after Berenberg cuts to 'hold'
** Symrise SY1G.DE shares are down 2.4% in early Frankfurt trade after Berenberg cuts the German flavour and fragrance maker to "hold" from "buy"
** The downgrade follows the company reporting mid-single-digit price decreases in its Pet Food business, its most attractive segment, the broker says
** "This development raises the question of whether the industry pricing power is as strong as we previously envisaged," Berenberg adds
** The broker points to near-term pressures from consumers switching to cheaper products that Symrise has low exposure to, as for example private labels
** Out of 25 analysts covering the company, 12 rate it "strong buy" or "buy", 10 "hold" and three "sell"
Reporting by Isabel Demetz
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